B&S progressing offshore Falklands Darwin project talks
June 7, 2023
Borders & Southern Petroleum is in discussions with potential farm-in partners for its planned Darwin gas-condensate development south of the Falkland Islands.
LONDON — Borders & Southern Petroleum is in discussions with potential farm-in partners for its planned Darwin gas-condensate development south of the Falkland Islands.
The company has been working on new concepts to reduce the project’s risk, with an independent engineering study confirming the viability of a conventional deepwater FPSO scheme with two producer wells and one gas injector.
Assuming a $60/bbl oil price and initial production of 26,000 bbl/d, payback could be achieved within two years with expansion of the project enabled by free cash flow. And the revised concept appears to have a relatively low environmental footprint.
Present market conditions for a farm-out are relatively favorable, the company added, despite strong competition for capital for greenfield oil developments.
