Premier Oil Resumes Drilling Operations in North Falklands
Energy company Rockhopper Exploration has announced that drilling operations Isobel Deep well have recommenced. Isobel Deep is located in the North Falklands basin in the South Atlantic Ocean.
UK-based Rockhopper said that technical issues relating to the Eirik Raude (UDW semisub) rig's blow-out preventer (BOP) control system have now been fully resolved and license operator Premier Oil has resumed drilling on the well (designated 14/20-1), which is expected to take approximately 15 days to complete.
London-based investment bank Westhouse Securities stated that the Isobel Deep prospect contains 70 million barrels of oil equivalent and the organization believes the latest news could develop more opportunities for larger energy firms.
"Further success in this campaign, following the success of the first well Zebedee, should make the North Falklands basin a more attractive farm-in opportunity for bigger companies," Westhouse analysts wrote in a brief research note.
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