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Energy

Falkland Oil & Gas kicks off next phase of exploration

Just days after its 2012 drilling programme stopped, Falkland Oil & Gas (LON:FOGL) has now begun its next phase of exploration, with a 3D seismic programme.

The programme is designed to assess a mid-Cretaceous Diomedia fan complex located within its southern area licences.

It is being operated by Noble Energy which farmed into the project in August. Later next year, in the fourth quarter, there will be a second Noble-operated programme in the Northern licences.

Another FOGL-operated 3D seismic programme, using a different vessel, is expected to start in the first quarter of next year.

"We are pleased to announce the start of a very important 3D seismic survey programme, which marks the continuation of our exploration activities,” said chief executive Tim Bushell.

“The 3D seismic will be invaluable for identifying future drilling targets, locating good quality reservoir and differentiating oil from gas prospects."