The Falklands oil companies

graeme at 7:30 a.m. Fri 19 Feb 2010

Oil-price.net’s article on Falklands oil has a list of the companies involved in exploration, as well as analysis of the risks and potential.

The reserves are quite big.

The areas around Falkland Islands are said to have one of the world’s largest reserves of >oil, mainly in the north basin. There are reserves in the South and East of Falkland islands >as well. The British Geological Survey estimates the oil at about 60 billion barrels

Of the six companies with exploration licences, four are listed:

  • Desire Petroleum PLC (LSE: DES): It has licence in the north basin. The company expects to recover oil worth about 3 billion boe in four wells. Its rig, Ocean Guardian is expected to arrive in Falkland Islands this week, to drill 100 miles offshore.
  • Rockhopper (LSE: RKH): Has licence in north basin. Expecting oil worth 4.3 billion boe.
  • Borders & Southern (LSE: BOR): Licence is in south basin. Not ready to speculate on the amount of oil, yet.
  • Falklands Oil & Gas (LSE: FOGL): associated with BHP Billiton. Licence for drilling in east and south basin. Estimates the oil to be about 60 billion boe

There is a lot more in the original article.

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