New discovery in the Falkland Islands

UK

STANLEY, April 3, 2015 – Premier Oil, Falkland Oil and Gas and Rockhopper Exploration have made an oil and gas discovery at a new exploration well offshore the Falkland Islands, the companies announced on Thursday.
The UK-headquartered companies said the Zebedee well in block PL004b had struck 24.7 metres of oil reservoir and 16.8 metres of gas.
The find represented a successful start to the companies’ 2015 exploration campaign, which will include the drilling of a total of six wells.
The well was drilled by the Eirik Raude semi-submersible drilling rig. Owned and managed by Athens-headquartered Ocean Rig, the rig will now be moved to the Elaine/Isobel fan complex in the southern part of the North Falkland Basin.
Premier owns a 36-percent stake in block PL004b, while Falkland Oil and Gas holds 40 percent and Rockhopper Exploration controls the remaining 24 percent.
The Falkland Islands, located about 500 kilometres off the coast of Argentina, are a self-governing British Overseas Territory. The archipelago is subject to a territory dispute with Argentina, which claims them as its own. The Argentinean military invaded the Falklands in 1982 sparking a two-month conflict with Britain.

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