• 3 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 7 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 13 hours Conflicting News Spurs Doubt On Aramco IPO
  • 14 hours Exxon Starts Production At New Refinery In Texas
  • 15 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 1 day Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 1 day Oil Gains Spur Growth In Canada’s Oil Cities
  • 1 day China To Take 5% Of Rosneft’s Output In New Deal
  • 1 day UAE Oil Giant Seeks Partnership For Possible IPO
  • 1 day Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 8 days Chinese Teapots Create $5B JV To Compete With State Firms
Half A Million Bpd At Risk From Geopolitical Firestorm

Half A Million Bpd At Risk From Geopolitical Firestorm

Geopolitical tensions are once again…

Are Oil Stocks Close To A Breakout?

Are Oil Stocks Close To A Breakout?

As oil markets continue to…

Argentinean Falklands Offshore Oil Exploration Well Comes Up Dry

The Falkland Islands are a windswept archipelago in the southern Atlantic, about 250 nautical miles (290 mi; 460 km) from the coast of mainland South America, claimed by both Britain and Argentina, which calls them the Malvinas. In 1982 the two countries fought a vicious two-month war over them, ending in a complete British victory. In light of the 1982 United Nations Law of the Sea Convention, the major issue remains the resource-rich waters surrounding them, which under UNCLOS terms, provide a 200-mile Exclusive Economic Zone for their exploitation.

Both Britain and Argentina believe that the waters contain rich hydrocarbon resources and drilling off the Falklands has been going on for over two decades. Desire Petroleum plc and Falkland Oil and Gas both drilled test wells in the Falklands’ EEZ that came up dry. Later that year, Britain’s Rockhopper Exploration plc announced that its Falkland test wells indicated that its Sea Lion prospect reservoir contained at least 155 million barrels of recoverable oil.

YPF Argentina’s energy company has now reported that its first offshore well drilled in what it terms the “Malvinas basin” proved dry. The drilling effort was a joint venture with Brazil’s Petrobras and Pan American Energy, a Chinese-Argentine group.

The drilling zone was located 186 miles from Argentina’s city of Rio Grande and 80 miles from Isla de los Estados, to the southeast of Tierra del Fuego.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News