Premier Oil and Noble Energy have issued a termination notice for the Eirik Raude rig.
Noble Energy has plugged and abandoned its Humpback well in waters off the coast of Falkland after non-commercial quantities of oil and gas were discovered. The company said a full assessment and integration of drilling results was on-going to determine the remaining exploration potential in the southern area license. Noble said the rig which drilled the Humpback well will be released to another operator before returning to the company to spud the Rhea prospect later this year or early next year.
Falkland Oil and Gas (FOGL) said it has encountered the possible presence of hydrocarbon at its Humpback exploration well. The company said the well has been drilled to 4,718metres and intermediate wireline logs have indicated hydrocarbon bearing sandstones within the main target horizon. The well is now being depended to evaluate additional targets.
Rockhopper Exploration has reached an agreement to drill a further well on the Isobel/Elaine complex in the North Falkland Basin. The company said the re-drill well will target the Isobel Deep reservoir which has oil bearing in well 14/20-1 but could not be logged or sampled for mechanical reasons. This new well will be drilled 4km from the original bore and is also expected to encounter additional reservoir targets in the Elaine South and Isobel Shallow fans.
Falkland Oil & Gas (FOGL) has told investors the drilling of an exploration well in the South Falkland basin has been hit by delays. The company said there had been “unforeseen equipment and operational issues” at the deepwater Humpback exploration well. It means a month has been added to the schedule after the number of planned days increased from 65 to 100 days.
Premier Oil has downsized its spending on the Sea Lion development in the Falkland Islands, the company has announced. The project had originally been earmarked for spending of more than £3billion. However in its interim statement, the company said following a project review, the Sea Lion would now progress to a “smaller development” with an estimated spending of less than £2billion.