UK firms find oil and gas off Falkland Islands

Two British companies have made their first oil and gas discovery at a well off the Falkland Islands. Premier Oil and Falkland Oil and Gas said 81 feet of net-oil […]

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By Priyanka Shrestha

Two British companies have made their first oil and gas discovery at a well off the Falkland Islands.

Premier Oil and Falkland Oil and Gas said 81 feet of net-oil bearing reservoir and 55 feet of net gas-bearing reservoir were found at the Zebedee well.

Exploration Director Andrew Lodge said: “They will add further resource to future phases of development in the area. We now look forward to the results of the upcoming Isobel Deep well, potentially the highest impact well in this campaign.”

The well was drilled on a licence area that is 40% owned by Falkland Oil and Gas, 36% by Premier Oil and 24% by Rockhopper Exploration.

It will now be plugged and abandoned as a successful exploration well and the rig will be moved to the Isobel Deep well in the southern part of the North Falkland Basin.