The PGS Ramform Titan is expected to complete the FINA 3D seismic survey in February 2014. The FINA survey is over 5000sqkm in area and is targeting the Hersilia fan play a mid Cretaceous, deep-water play similar to that successfully targeted in Ghana by Tullow and currently being explored on both sides of the Atlantic margin.
The Titan is equipped with the latest GeoStreamer technology which means the cable is towed deeper in the water column which allows acquisition in slightly rougher sea conditions. However, the main benefit is the uplift achieved in seismic resolution which in turn will lead to better prospect definition. The first processed data from the survey (known as Fast Track data) should be available by mid-2014. The fully, processed products, which are used to define the final well locations, will not be available until Q4 2014.
Drilling is expected to commence in 2015. In the South Falkland Basin, where FOGL has a 52.5% working interest, the drilling programme will include two deep-water wells operated by Noble Energy. In the North Falkland Basin three wells are planned, all operated by Premier Oil. These include appraisal drilling on the Sea Lion field in PL004b (Zebedee) and exploration wells on the Jayne and Isobel/Elaine prospects. FOGL has a 40% working interest in these wells. The final drilling order has yet to be agreed.
The rig selected will be similar to the large, harsh environment, semi-submersible drilling unit used in the 2012 campaign. Negotiations are currently progressing with multiple drilling contractors.
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