LONDON — Two UK E&P independents have issued brief updates on their field development planning offshore the Falkland Islands.
Borders & Southern Petroleum operates three production licenses in the South Falkland basin and has drilled two exploration wells, discovering gas condensate in the Darwin prospect.
Courtesy Borders & Southern
North-south cross section through Borders & Southern’s acreage
The company has been sharing details of its technical and commercial work with potential interested parties. Its current focus is on the technical and commercial sensitivities associated with its initial three-well, phased development for Darwin, including assessing variations in production volumes to use FPSOs that are available for redeployment.
The main goals are to reduce project risks, shorten cycle time and advance Darwin's monetization.
Rockhopper Exploration is a partner to Navitas in the Sea Lion Field in the North Falkland basin. Their re-worked base case project is focused on reducing costs while increasing total production.
They aim to develop 269 MMbbl with peak production of 80,000 bbl/d from an assumed leased FPSO, with projected pre-first oil capex of $1.3 billion, and life of field costs of less than $30/bbl.
Work continues to refine project phasing and the financing plan.
