Falklands farm-out hampered

OE Staff
Monday, September 16, 2013

Desire Petroleum has said a farm out process on its Falklands acreage has been held back by uncertainty over the timing and scope of the development of the Sea Lion oil field.

A lack of a firm date for the mobilisation of a rig to the north Falkland basin for a new exploration campaign had also impacted the conclusion of the process, it said. 

Desire Petroleum, which holds 40% equity in licence PL004b, welcomed indications by partners in the block, Premier Oil (operator) and Rockhopper Exploration, that a new exploration program could start on there in Q4 next year (2014), subject to rig availability. 

Premier Oil, operator, and Rockhopper expect one exploration well to be drilled on the licence, said Desire.

The well, at the Zebedee location, should test the Ninky North prospect stack, with gross best case unrisked prospective oil resources in multiple targets of 260MM bbl, according to a Senergy competent persons report, 2012). 

The well should also provide a southerly appraisal of the Casper South oil reservoir, said Desire.

Premier Oil has indicated that the neighbouring Sea Lion development is likely to be a phased project, with final project sanction targeted for the end of 2014. 

The first phase would be in the northern part of the field, with a likely second phase in the south to include the extension into PL004b.

Categories: Rigs Europe South America Activity

Related Stories

GHD Tackles Offshore Wind Noise Impacts with New Modelling Kit

GHD Tackles Offshore Wind Noise Impacts with New Modelling Kit

Petrobras Moves Ahead with Oil Exploration Plans off Ivory Coast

Petrobras Moves Ahead with Oil Exploration Plans off Ivory Coast

RWE and NBIM Complete Offshore Wind Transaction

RWE and NBIM Complete Offshore Wind Transaction

Current News

Vattenfall Names New Head of Wind Business

Equinor and Centrica Ink $27B Long-Term Gas Sales Agreement for UK

Dutch Firm Orders New Multi-Purpose Vessel for Subsea and Renewables Work

GHD Tackles Offshore Wind Noise Impacts with New Modelling Kit

Subscribe for OE Digital E‑News

Offshore Engineer Magazine