We would like to thank Falkland Oil and Gas Ltd for sponsoring our London Evening wine reception

Pioneering Exploration in the Falkland Islands - new oil and gas plays in a newly defined basin

Patrick Bird, Falkland Oil and Gas Limited

8th November 2005, doors open 5.45 pm for 6 pm
 Burlington House, Geological Society, London

The last 12 months has seen a surge of new exploration activity and interest in Falkland Islands waters. Falkland Oil and Gas Limited is one of a group of exploration companies leading this campaign. We will focus in this presentation on the basin development and petroleum potential of the southern and eastern margins of the Falklands. This very extensive area of Cretaceous and Tertiary sedimentary deposits has not previously been explored for oil and gas.

Starting in December 2004 more than 15,000km of 2D seismic has been acquired by the company, and a further 10,000 km are planned by early next year. The licence area being explored comprises 79,000sq km in water depths of 500-1800m. Although water depths are not exceptional by current standards they may explain why the area had received little previous attention.

Basin development in the Falklands initiated with late Jurassic rifting. During the South Atlantic opening, which followed, the Falklands separated from South Africa along the Aghulhas transform fault. Rich oil prone source rocks were deposited in the Late Jurassic and Early Cretaceous, as shown drilling in the North Falklands Graben, East Falkland Basin (DSDP wells) and Malvinas Basin to the west. Seismic data shows that the Cretaceous to Tertiary section is several kilometres thick, which should provide ample burial for oil and gas generation.

Initial seismic interpretation suggests that a wealth of oil and gas plays and leads are present, including shore-line sands, basin floor fans, and deep water channel and fan complexes. Many of the leads show strong amplitude development. This together with gas chimneys and probable seepages supports the presence of an active petroleum system. Potential reservoir sands interpreted on seismic are thought to be derived from the Falklands continental platform, on which a thick section of Devonian to Permian quartz rich sandstones are exposed.

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