Project Profile
Value: Undisclosed
Location: North Falkland Basin, adjacent to the Sea Lion development, Falkland Islands
Reserves: gross mean un-risked resources of 400 million barrels of oil
Area: unknown
Start-up Year: -
Premier and Rockhopper Exploration plc have signed a Heads of Agreement with Falkland Oil and Gas Limited (FOGL) to farm-in to license PL004a. License PL004a which include the Isobel/Elaine and Jayne East prospects, is situated in the North Falkland Basin, adjacent to the Sea Lion development. Under the agreement with FOGL, its share of costs for an exploration well on the Isobel/Elaine prospect (PL004a). Under a prior agreement with Rockhopper, Premier and Rockhopper will split the revised equity interests in the ratio 60/40. Under the same prior agreement with Rockhopper, Premier have agreed to fund up to US$48 million of Rockhopper\'s share of three exploration wells in the basin. Diamond Offshore\'s Ocean Guardian rig was used in the recent drilling campaign, and is currently undertaking work off the Falklands for Rockhopper. The Elaine/Isobel fan complex, based on the operator’s estimates, has multiple reservoir targets and gross, mean un-risked resources of 400 million barrels of oil.
Operators:
Premier Oil: Operator with 36% interest
Falkland Oil and Gas Limited (FOGL): 40% interest
Rockhopper Exploration Plc: 24% interest
Contractor:
Diamond Offshore: Drilling contract using the Ocean Guardian rig