The survey, which represents the second part of FOGL’s revised forward exploration program, will be conducted over the company’s licences in the South and East Falklands Basins.
FOGL said the first part of its strategy was to acquire controlled source electromagnetic (CSEM) data over many of the identified larger prospects and leads, then based on the results, acquire infill 2D seismic data over the most prospective targets.
“The data from the two programs will help us to further de-risk the prospects and determine the best targets for drilling exploration wells in 2008,” the company said.
“Our revised program is a very significant achievement for the company. With the large number of prospects that we have, these two methods will provide the most effective exploration solution for FOGL.”
FOGL also has the option to acquire additional 2D seismic data over the 10,000km seismic area, depending on both weather and the results of the CSEM survey.
“We expect to commence both the 2D seismic and the CSEM surveys before the end of [this year] and be in a position to announce the results next year.”
In July, FOGL signed a letter of intent with US-based Offshore Hydrocarbon Mapping (OHM) to undertake the CSEM survey over its licences in the South and East Falkland Basins.
CSEM is a relatively new offshore geophysical technique, which uses electromagnetic remote-sensing technology to detect the presence and extent of hydrocarbon accumulations below the seabed.