FALKLAND ISLANDS OFFSHORE OFFERS HIGH RISKS COSTS, GOOD POTENTIAL

Philip C. Richards Nigel Fannin British Geological Survey Edinburgh 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 timing of the round will allow oil companies 6 12 months to procure and interpret the data and make representations to the Falkland

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