Project Profile
Value: Undisclosed
Location: North Falkland Basin, adjacent to the Sea Lion development, Falkland Islands
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 PL004c. License PL004c, 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 Jayne East prospect (PL004c) will be carried by Premier and Rockhopper. 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.
Operators:
Premier Oil: Operator with 36% interest
Rockhopper Exploration Plc: 64% interest
Falkland Oil and Gas Limited (FOGL)
Contractor:
Diamond Offshore: Drilling contract using the Ocean Guardian rig