London AIM listed Falkland Oil & Gas (FOGL) said Italian utility Edison International Spa was its new partner, bringing in a large, non-British company to help it look for hydrocarbons in the Falkland Islands.
Falkland Islands exploration company Borders & Southern (AIM: BOR) announced the spudding of its second well, 61/25-1, on 11 May 2012. The well is located 170 km south of the Falkland Islands.
The Argentine Government announced on Saturday it had begun the legal proceedings put together with the AFIP tax agency against five British oil companies, accusing them of carrying out illegal operations in the Falklands/Malvinas Islands.
The exploration company Falkland Oil and Gas Ltd. (FOGL) has entered a farmout agreement with an unnamed party for its licenses south and east of the Falkland Islands.
UK based oil firm Borders & Southern pushed back the time frame for initial results from an exploration campaign offshore the Falkland Islands after a deep water well experienced technical issues.
The Argentine newspaper Ambito Financiero reported on Friday, without revealing sources, that oil exploration rig Leiv Eiriksson, contracted by two oil companies to drill to the south of the Falkland Islands “was found, on Thursday, exploring in Argentine waters”, according to ‘irrefutable’ satellite images.
A consortium of companies appears to be spending a large day-rate on an Ocean Rig unit which has been fixed for a firm three years off Norway. The semi-submersible Leiv Eiriksson, currently operating in Falklands waters has been wrapped up for a 15-well program over a minimum of 1070 days on the Norwegian Continental Shelf, Greek rig owner Ocean Rig said on Monday.
A new round of Falkland Islands oil exploration began this week when London AIM listed Borders & Southern Petroleum plc announced that their first exploration well, located approximately 140 kilometres south of the Islands, was spudded on 31st January 2012.
Falkland Oil and Gas (FOGL) confirmed on Monday it was holding talks with potential partners to look for oil and gas in the Falkland Islands and announced that the exploration rig slated to drill four wells in Falklands’ waters is expected in the Islands in late January 2012.
When the Leiv Eriksson, a rig built to hunt for oil beneath 10,000 feet of water in the world’s roughest seas, finishes drilling a well off Greenland’s west coast next month, it will sail for its next job -- a prospect 9,000 miles away, south of the Falkland Islands.