Repsol consortium to explore off Falklands

Eric Watkins
OGJ Oil Diplomacy Editor
 
LOS ANGELES, June 9--A consortium led by Repsol YPF SA plans oil and gas exploration in international waters off the Falkland Islands beginning in early 2010.
 
Repsol YPF executives disclosed no project details. In 2006, Repsol and Energia Argentina SA (Enarsa) signed two agreements to explore and develop oil and gas off Argentina.
 
The first is a 10-year strategic agreement covering all areas 100% owned by Repsol or Enarsa off Argentina within three zones of interest from the Uruguay border to the Falkland Islands.
 
The second agreement establishes a consortium specifically to explore the Colorado Marina basin. Consortium members are Enarsa, Repsol, Petrobras, and Petrouruguay
 
Repsol operates the area with 35% interest while Enarsa holds 35%, Petrobras 25%, and Petrouruguay 5%.
 
Argentina and Britain both claim large areas of the seabed around the islands.
 
Britain lodged a claim for 1.2 million sq km in May. Argentina filed a claim for the same area in April with the UN Commission on the Limits of the Continental Shelf.
 
British company Rockhopper Exploration PLC in May reclassified a 1998 North Falkland basin exploration well as a gas discovery with a 3.4 tcf mean contingent resource.
 
Shell Exploration & Production Southwest Atlantic BV drilled the 14/5-1A wildcat on the Sebald prospect to 4,525 m measured depth in 464 m of water (OGJ, Nov. 9, 1998, p. 44).
 
Contact Eric Watkins at hippalus@yahoo.com

Related Articles

Kansas-Missouri heavy oil area draws new operator

03/26/2014 Worthington Energy Inc., San Francisco, said it will attempt to recover heavy oil on the Barr Cattle Co. lease near Chetopa in southeastern Kansas.

Myanmar awards exploration blocks

03/26/2014 Myanmar’s energy minister has announced winners for 20 of the 30 offshore blocks that have been available since its auction launch in April 2013.

Financial questions seen for US shale gas, tight-oil plays

03/25/2014 Financial problems of operators in US shale gas and tight oil plays might hold production growth below current expectations, according to the autho...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/24/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected