FOGL Spuds Scotia Exploration Well (Falkland Islands)

FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, announces that the Scotia exploration well FI 31/12-01 was spudded on 25 September 2012.

The well is located 315 km east – northeast of Stanley, Falkland Islands and 114 km from the Loligo prospect.

FOGL is the operator of the well, holding a 75% interest, together with its partner Edison International Spa, which holds the remaining 25% interest. Under a farmout agreement announced on 6 August 2012, Noble Energy Inc. will also participate in this well for a 35% interest, thereby reducing FOGL’s interest to 40%. The farmout agreement has been approved by the Falkland Islands Government and the changes to the licences will be formally executed in the near future. Scotia is the second of FOGL’s two well exploration programme using the Leiv Eiriksson semi submersible drilling rig.

The well is designed to test the Scotia prospect within the mid Cretaceous fan play. It is anticipated that the well operations will be around 75 days with a total depth of approximately 5,000 metres.

Press Release, October 25, 2012; Image: Ocean Rig

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