Falklands joint venture acquires 3D seismic over Cretaceous fault blocks

6/6/2013

Falklands joint venture acquires 3D seismic over Cretaceous fault blocks

LONDON -- Falklands Oil & Gas, the oil and gas exploration company focused on its extensive licence areas to the south and east of the Falkland Islands, has has announced the completion of a 3D seismic survey over Cretaceous fault blocks.

The PGS M/V Ramform Sterling was used to acquire a total of 1,018 sq km of full-fold seismic data. This survey was designed to target a number of prospects and leads immediately to the west and northwest of the Darwin gas-condensate discovery. The survey was operated by Noble Energy on behalf of the joint venture, which also includes Edison International Spa.

The data will now be processed by PGS and a fast track product will be available for interpretation in approximately two months. It is anticipated that the final processed data will be available in the fourth quarter of 2013. The fast track data will be used to commence prospect mapping and the selection of well locations.

The joint venture expects to award a contract in the near future for a third 3D seismic survey that will be acquired in the northern licence area in the fourth quarter of 2013.

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