News

December 08, 2009

A Tale of Two Basins: North Falklands Drilling Set For Early 2010 Start

By Martin Clark

Whatever the outcome, the Falklands oil and gas story is about to move on to the next chapter.After waiting years for a well to test the region’s much-hyped hydrocarbons potential – a decade, in fact, given that the last drilling took place in 1998 – a number of targets are now being primed ready for an early 2010 start date.

For the more cynical-minded in London, there are obvious parallels to be drawn with the famous red double-decker buses that use to populate the city’s streets: you queue for hours for one to come along, and then they all come at once.

Falklands’ enthusiast Desire Petroleum confirmed recently the long-awaited news that it had concluded a rig deal which will see a multi-well drilling campaign focusing on the North Falkland Basin kick-off at the beginning of next year.

The AIM-listed company...