Project Profile
Value: US$75 million
Location: South Atlantic, 315 km east-northeast of Stanley, Falkland Islands
Reserves: Unknown
Water Depth: 1,500 - 5,000 metres
Start-up Year: 2012
Scotia lies 114 km northeast of Loligo, in the Falkland Islands in the South Atlantic 315 km east-northeast of Stanley. Water depths in the East Falklands basin are 1,500-5,000 feet. FOGL operates Scotia with 75% interest, and Edison International SPA has 25%. Under a farmout agreement announced August 6, Noble Energy Inc. will also participate in the prospect for a 35% interest, reducing FOGL’s interest to 40%. The Falkland Islands government has approved the farmout.
Due to the thin-bedded nature of the sediments it is difficult to assess precisely both hydrocarbon saturation and the total net hydrocarbon-bearing reservoir, FOGL said. Preliminary estimates, however, suggest hydrocarbon saturations ranging from 40% to 60% and net hydrocarbon-bearing reservoir of between 10 and 20 m. Within the T5 target two main hydrocarbon-bearing zones were encountered, at 3,462-3,558 m and 3,608-3,705 m. The net hydrocarbon-bearing reservoir in these two zones was 46 and 59 m, respectively. Porosities ranged between 23% and 30% and averaged 24%, and hydrocarbon saturations ranged between 40% and 75%. Falkland Oil & Gas Ltd. has spudded the Scotia exploratory well on 28th of September 2012.
After beginning drilling in the Scotia exploratory well in 2012, Noble Energy Inc. has deemed the well non-commercial.
Operators:
Falkland Oil & Gas Ltd.: Operator with 40% interest
Edison International SPA: 25% interest
Noble Energy Inc.: 35% interest