B&S rethinks offshore Falklands exploration, development options

Offshore staff

LONDONBorders & Southern (B&S) has had to put its next planned phase of exploration in the offshore South Falkland basin on hold.

The company had hoped to have secured partners and funding for a new exploration and appraisal drilling program but has been thwarted by the oil price.

Although its current production license period extends through end of October 2017, it has applied to the Falkland Islands government for an extension.

Sub-surface studies continue. Last year B&S upgraded recoverable resources from the Darwin East and West discovery to 360 MMbbl of condensate.

The current focus is on the early Cretaceous shallow marine sandstone play fairway, re-mapping the discovery and analyzing the seismic response on near-field prospects with a view to developing reliable predictive models for hydrocarbon presence and phase.

Additionally, the company has re-assessed its basin models, incorporating results from recent drilling activity in the area by other operators.

It is also considering how a Darwin development would fit in a period of sustained low oil prices. A previous scenario involved two to three appraisal wells and 10 development wells (six producers and four gas re-injectors) tied back subsea to an FPSO. New reservoir engineering studies are looking at reduced well count models.

Results will feed into alternative facilities engineering concepts leading to a new economic evaluation. The company hopes that demonstrating the commercial viability of a development even in the current environment will assist the farm-out process.


Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...