In good news for contractors, a rig has been contracted to drill at least four new wells offshore the Falkland Islands in the North Falkland Basin, Premier Oil and Rockhopper Exploration have announced.

A rig sharing agreement has been made that will also allow two further wells in other areas of the Falklands. It brings together three separate companies altogether, with the rig contracted by Premier, them being the operator of the license, and Rockhopper and Noble Energy making use of it.

The plan is for Rockhooper to use the first two drilling slots using the Zebedee and Isobel/Elaine prospects, with Noble then taking the third and fourth. After, the rig will return to the North Falkland Basin for a final two wells, most probably at Jayne East and Chatham/Sea Lion West Flank.

Rockhooper have been spending time ensuring everything goes smoothly. They’ve said they have sub-surface teams working their exploration locations to make sure the reservoirs are accessed from the best position.

It’s been estimated that 1.9 billion barrels of oil will be made available if the campaign is a success.

The CEO of Rockhopper, Sam Moody, said: “”We are very pleased that the contract for this rig has been signed and that we can now get planning in earnest for the next exploration drilling campaign. The four firm wells in the North Falklands Basin will target a total of over 520 million barrels of STOIIP [stock tank original oil in place] net to Rockhopper (management estimate) and will bring the total number of wells Rockhopper has drilled in the Falklands as both operator and non-operator to 19.

“Given our track record in the basin we are confident that the targets of our new drilling campaign are highly prospective. We continue to work closely with Premier as we jointly move the Sea Lion project towards final investment decision.”

Image by Gidzy.