FALKLAND Oil & Gas has been forced to delay drilling of its Loligo exploration well offshore the Falkland Islands due to the anticipated late arrival of the heavy-duty drilling rig Leiv Eiriksson.
Falkland’s CEO Tim Bushell says the well will be drilled after Borders & Southern Petroleum has drilled two wells early next year.
The UK minnow says that the Loligo target is potential reserves up to 5billion barrels of oil and that the company is in discussions with potential partners to share the cost of drilling the well.