Monday, September 17, 2012

FOGL makes Malvinas gas discovery

Oil explorer Falkland Oil and Gas (FOGL) said it found gas off the coast of the Malvinas Islands in the South Atlantic, but it could not yet be sure whether the discovery was commercial or not.

FOGL, which is partnered with US firm Noble Energy and Italian utility Edison on the project, said today the results were "encouraging" but added that more tests would need to be done to assess the size of the resource and commercial viability of the gas.

Oil was found to the north of the Islands in 2010 and plans are afoot to turn the province into an oil producer.