Project Profile
Location: Northern Licence, Falkland Islands
Prospective resources: 4.7 billion barrels (Pmean)
Area: 1,000 sq km
The Loligo prospect is located in the Northern Licence in the Falkland Islands. FOGL wholly owns and operates the license. The Loligo complex comprises of several reservoir targets.
In March, FOGL signed a binding Heads of Agreement with its joint venture, BHP Billiton, allowing for the exit of BHP from the license, effectively ending the joint venture. Once conditions in the agreement are satisfied, the assignment of BHP Billiton\'s 51% operating interest will transfer to FOGL.
In May 2011, Falklands Oil and Gas (FOGL) finalised an agreement with Borders & Southern Petroleum to contract the Leiv Eiriksson for two firm drilling slots.
Operators:
Falklands Oil and Gas (FOGL) (subsidiary of Rockhopper Exploration): Operator with 75% interest
Edison International: 25% interest
Contractors:
Borders & Southern Petroleum: Drilling contractor