Falkland Islands offshore offers high risks-costs, good potential

Journal Article · Mon Jan 17 00:00:00 EST 1994 · Oil and Gas Journal; (United States)

OSTI ID:5562539

Richards, P C; Fannin, N ^[1]

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1. British Geological Survey, Edinburgh (United Kingdom)

The recent seismic surveys in Falkland Islands waters by GECO-Prakla and Spectrum have encouraged substantial oil company interest in this new exploration area. An exclusive licensing round, based on competitive work programs, is expected to open in second half 1994 and close in early 1995. The fiscal terms and conditions relating to exploration and exploitation have yet to be finalized. However, it is expected that provisions will recognize the frontier nature of the area and will be designed to encourage operators fully to explore leased areas. The new seismic surveys are a considerable improvement on existing data acquired in the late 1970s and extend up to 380 km from the Falkland Island coast. The surveys cover all of the area in less than 200 m. The combined survey is probably the largest speculative shoot ever undertaken in a single season. This paper discusses the generalized geology, the Falkland Plateau basin, the Malvinas basin, the South Falkland basin, the Burdwood bank, and the northern basins.

• OSTI ID: 5562539
• Journal Information: Oil and Gas Journal; (United States), Vol. 92:3; ISSN 0030-1388
• Country of Publication: United States
• Language: English

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