Falkland Oil Drillers Suspend Work After Technical Problem

Reuters

LONDON, April 24 (Reuters) - Oil explorers drilling in the waters surrounding the Falkland Islands have suspended work on the first well of their 2015 drilling campaign after a technical problem, two of the companies involved said on Friday.

Oil drilling in the area remains controversial due to an ongoing sovereignty dispute over the islands between Britain and Argentina.

The south American country has filed a domestic lawsuit against the drillers, saying their activities are illegal.

London-listed Falkland Oil and Gas said on Friday a problem with a blowout preventer (BOP) used in drilling for oil on the Isobel Deep well had forced a temporary suspension of the work.

"It is anticipated that the repairs to the BOP will take in the order of 10-14 days," the company said in a statement.

Meanwhile, the drilling rig used on the project will move to the Chatham and/or Jayne East wells, the company said.

FOGL owns a 40 percent stake in the Isobel Deep discovery, while Premier Oil holds a 36 percent share and Rockhopper 24 percent.

(Reporting by Karolin Schaps; editing by Jason Neely)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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