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