Reaction to Falkland Oil and Gas Ltd/Noble Energy Farm-in Agreement
The Falkland Islands Government recently received news of a farm-in agreement between Falkland Oil and Gas Ltd and Noble Energy.
Noble Energy are acquiring a 35% stake in FOGL™s interests in the Falkland Islands under a farm-in deal that will assist in financing the development of FOGL™s future exploration programme.
Stephen Luxton, Director of Mineral Resources for the Falkland Islands Government said:
œFIG welcomes the entry of Noble Energy as a new partner in Falkland Islands licenses. Another significant international energy company has given its vote of confidence to the many interesting opportunities available in the Falklands. We look forward to meeting the Noble team in due course and working with the new partnership to progress their licence interests in the South Falkland Basin.”
Hon. Jan Cheek, Member of the Falkland Islands Legislative Assembly said:
œThe investment of another respected international partner is good news for the oil industry and the Falkland Islands. This announcement is another clear indication as to how positively industry view prospects in the Falkland Islands. The Falkland Islands are an excellent investment destination, and as with all current and potential partners we look forward to working further with Noble Energy through the development of FOGL™s prospects.
For further information please contact:
Falkland Islands Government
Darren Christie – Public Relations and Media Manager +500 27400
Stephen Luxton “ Director of Mineral Resources +500 27322