The North Falkland Basin comprises 99,000 square kilometres of the Falkland/Malvinas offshore territory in water depths ranging up to 1,200 metres. There is currently no hydrocarbon production, however the Sea Lion oil discovery is currently in FEED and further commercialisation of nearby discoveries could follow. Operators have an improved geological understanding of the basin, where exploration wells often target overlapping fans and stacked pay. The exploration wells to date have been focused on a small area, leaving the majority of the basin unexplored. Value creation is possible in the basin despite risks and moderate YTF potential. Political tension with Argentina is a key risk, as British sovereignty is strongly disputed. Sanctions by Latin American countries add to logistical and operational challenges posed by the remoteness of this region of the world.
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Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
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Asset report | Jul 2016
Falkland Malvinas Islands North Falkland exploration basin
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