Crude oil found off Falkland Islands

May 30, 2015 12:00 AM

The offshore drilling rig Eirik Raude found oil off Falkland Islands at the 14/20-1 Isobel Deep well, despite the low chances according to the analysts and scientists. The oil rig is operated and owned by the British oil company Premier Oil, which is exploring two of the six wells in North Falkland Basin.

The quality of the crude oil is high and the quantities of hydrogen sulfide and carbon dioxide are small. The drilling in this offshore area was delayed with several months, after Argentina sensibilities over the disputed sovereignty of the Falkland Islands.

Now Argentina opened lawsuits against some of the firms involved in offshore drilling in North Falkland Basin, claiming that they are operating without Argentine licensing.

The British oil company Premier Oil will estimate the new discovery and will calculate the volume of the 14/20-1 Isobel Deep well.

Until then the offshore drilling rig Eirik Raude will be released to drill in the South Falkland Basin.

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