Rockhopper optimistic about Falklands oil exploration

Rockhopper Exploration has outlined a development plan for its Sea Lion field offshore North Falkland.

The company has worked up a development plan on the basis of a recoverable resource of 350 million barrels using a leased FPSO.

Rockhopper are estimating that first oil will be achieved in early 2016, with maximum production of 120,000 bpd by 2018, and development costs to first oil are expected to be in the region of US$ 2 billion.

Rockhopper is expecting to finish its concept engineering studies in the first quarter of 2012 and will then commence its front-end engineering design (FEED), which is expected to be completed by the first quarter of 2013. The company is anticipating awarding contracts to subsea contractors and an FPSO operator by this stage as well.

The company has also announced a significant new find at it’s 14/10-7 well in the Sea Lion discovery area

14/10-7 is the fifth well to be drilled on the Sea Lion Main Complex (SLMC) and was drilled 3.3km to the north west of the 14/10-2 discovery well to a total depth of 2696m.

The well was successful, proving a high quality reservoir package and oil column. Wireline logging and formation testing indicate that 25m of net pay was encountered in the SLMC.

The well will now be plugged and abandoned as planned. On completion of operations on 14/10-7 the Ocean Guardian will move to drill well 14/10-N which is located approximately 4.1km south south east of the 14/10-2 discovery well.

Read the article online at: https://www.oilfieldtechnology.com/exploration/15092011/rockhopper_optimistic_about_falklands_oil_exploration/