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Phyl Rendell Director, Minerals and Agriculture, FIG

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Phyl Rendell Director, Minerals and Agriculture, FIG. Phil ... Ceritos Arroyo, East Falkland. Oil & Minerals the way forward. Opportunities for the Future' ... – PowerPoint PPT presentation

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Title: Phyl Rendell Director, Minerals and Agriculture, FIG


1
Oil Minerals the way forward
  • Phyl Rendell Director, Minerals and
    Agriculture, FIG
  • Phil Richards Geologist, British Geological
    Survey
  • Phil Stone Geologist, British Geological Survey
  • Lewis Clifton Director, Byron Marine Ltd

2
Oil Minerals the way forward
Area Exploration History Potential Licences and
our operators Future plans UNCLOS
Oil Phil Richards - BGS
Minerals Hows it going? Phil
Stone - BGS
Review
Infrastructure forward look Phyl Rendell - FIG
Audience discussion
Business Perspective Lewis Clifton Byron Marine
3
Oil Minerals the way forward
Oil Phil Richards - BGS
4
Oil Minerals the way forward
Oil
  • Falklands
  • Big area
  • Sexy geology
  • Huge potential
  • But
  • Remote
  • Logistically difficult

5
Oil Minerals the way forward
Exploration History
  • 1992 - Start.
  • 1995 - 1st licensing.
  • 1998 - drilling (6 wells).
  • 2003 - 07 - new surveys.
  • 2007 - 08 - new wells?

6
Oil Minerals the way forward
1998 drilling technical and logistical success
despite remote location and Argentine
intransigence. Oil to surface!
Next time we expect both technical and
commercial success! Oil to refineries?
Opportunities for the Future
7
Oil Minerals the way forward
Where are the sexy areas?
8
Oil Minerals the way forward
Current oil licences
The only bit thats been drilled so far. Rest is
frontier, virgin territory.
Lots of activity here will lead to drilling!
9
Oil Minerals the way forward
Current offshore activity
10
Oil Minerals the way forward
Next drilling targets
After that?
  • When?
  • Needs a rig.
  • At least 3 months.
  • Possibly 2007.
  • Appraisal of discovery?
  • Production?

11
Oil Minerals the way forward
Desire FOGL BSP Rockhopper FGML Argos
New breed of companies here since last (1998)
phase of drilling Shell and other majors gone
away.
12
Oil Minerals the way forward
What odds for oil?
Calculating those odds
Source rock 80
x Maturity 70
x Seal 75
x Reservoir 60
x Trap 80
Odds 20, or 15
But, if any parameter 0
13
Oil Minerals the way forward
How much oil is there?
So, how much oil?
Somewhere between zero and lots!
  • Falklands companies estimate
  • North Falklands gt 4 billion barrels in place?
  • South and East Falklands - gt 10 billion barrels
    in place?

14
Oil Minerals the way forward
Potential markets?
Potential for Falklands to ensure part of UKs
security of supply
15
Oil Minerals the way forward
Extending the Continental Shelf UNCLOS the
long term resource issue supporting the
future for our great grandchildren
Opportunities for the Future
18 April 2007
16
Oil Minerals the way forward
Minerals Phil Stone - BGS
17
Oil Minerals the way forward
Minerals
18 April 2007
18
Oil Minerals the way forward
Minerals
19
Oil Minerals the way forward
Minerals
Opportunities for the Future
18 April 2007
20
Oil Minerals the way forward
Minerals
21
Oil Minerals the way forward
Minerals
FGML drilling rig operating in Ceritos
Arroyo, East Falkland
22
Oil Minerals the way forward
Review Phyl Rendell - FIG
23
Oil Minerals the way forward
The Way Forward - Review
  • A good place to do business
  • Robust regulatory framework that protects the
    environment
  • FIG works in partnership
  • with companies to maximise knowledge of the area

24
Oil Minerals the way forward
  • Islands infrastructure has facilitated
  • Acquisition of 45,000 km of 2D seismic
  • 3 large 3D seismic surveys
  • Several airborne magnetic surveys both on and
    offshore
  • 6 exploration wells

25
Oil Minerals the way forward
  • Shell, Amerada etc found facilities and local
    services better than expected when drilling

Private sector has burgeoned since 1998 and can
offer a wider range of services
26
Oil Minerals the way forward

Where are we headed? Continued exploration
leading to
  • production with minimal onshore/environmental
    impact
  • long-term economic self-sufficiency for the
    Islands

Come and join us!
27
Oil Minerals the way forward
Find out more here
www.falklands-oil.com
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