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Falkland Oil and Gas spuds first of two exploration wells

BY TAPAN PANCHAL

LONDON -- Falkland Oil and Gas, the oil and gas exploration company focused on the South and East of the Falkland Islands, announced that the Scotia exploration well FI 31/12-01 was spudded on Sept. 25. The company anticipates that the well operations will be around 75 days with a total depth of 5,000 m.

Scotia is the second of the company' s two well exploration program using the Leiv Eriksson semisubmersible drilling rig. The company is the operator of the well, holding a 75% interest, together with its partner Edison International, which holds the remaining 25% interest.

Under a farmout agreement announced on Aug. 6, Noble Energy will also participate in this well for a 35% interest, thereby reducing company' s interest to 40%.

Dow Jones Newswires

09/25/2012

 

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