U.K. and Argentine governments have agreed to open for exploration disputed territorial waters southwest of the Falkland Islands in the South Atlantic ocean.
Their "special cooperation zone" covers 18,000 sq km and lies roughly half in Falklands waters and half in Argentine territory (see map, OGJ, Oct. 9, 1995, p. 36).
A U.K./Argentine agreement for joint exploitation of any hydrocarbons in this area was key to Argentina letting the recent Falkland Island licensing round go ahead without interference (OGJ, Nov. 4, p. 42).
The two government delegations met in London Dec. 10 and agreed to allow airborne and seismic surveys of the cooperation zone, beginning in February 1997.
Two applications to conduct surveys were received, and results of the surveys are expected to be available by mid-1997.
In a joint declaration, the two governments said they would aim to open the cooperation zone for licensing by yearend 1997.
Details of invitations to companies to apply for licenses are to be tackled as a priority.
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