SOUTH AMERICA

Falklands optimism amid dispute

CONSULTANCY GlobalData is bullish about the Falkland Islands' oil and gas sector kicking off into a production phase soon with the looming commercialisation of Premier Oil's Sea Lion project, even as the oiler is in a dispute with Ocean Rig over a terminated drilling contract.

Ocean Rig believes it is entitled up to $US62.9 million ($A88 million) in termination fees after operator Premier terminated a drilling contract offshore the Falkland Islands where its Eirik Raude vessel...

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