Exploratory Oil Drilling Commences in the Falkland Islands™ Southeast Waters
Falkland Oil & Gas (FOGL) in association with BHP Billiton became the third oil company this year to begin exploratory drilling operations in unexplored southeast Falkland Islands™ waters. Whilst previous drilling has been in northern waters, the new well, Toroa, is described as having the potential to yield up to 1.7 billion barrels of oil. The oil rig œOcean Guardian will be operating in depths of 600 metres whilst waters in the north are a lot shallower.
(Merco Press & Penguin News)