Falkland Oil and Gas begins Scotia drilling
Falkland Oil and Gas (FOGL) said it had begun drilling an exploration well at its Scotia prospect, 315 km east of the islands.
Falkland Oil and Gas (FOGL) said it had begun drilling an exploration well at its Scotia prospect, 315 km east of the islands.
The well is designed to test Scotia within the mid-Cretaceous fan play and operations are expected to take around 75 days, reaching a total depth of around 5,000 metres.
FOGL is the operator of the well, holding a 75% interest, together with its partner Edison International Spa, which holds the remaining 25% interest.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Under a farmout agreement announced on August 6th, Noble Energy will also participate in this well for a 35% interest, thereby reducing FOGL's interest to 40%.
-
Parental contributions to kids' university living costs could reach £14,000 a year
Parents helping kids with university living costs face contributions of up to £14,000 per year, according to a report from HEPI and TechnologyOne.
By Oojal Dhanjal Published
-
Rightmove: property asking prices hit record high
News Rising demand for top of the ladder home is boosting asking prices, Rightmove research shows. Is now a good time to sell a property?
By Marc Shoffman Published