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Offshore Oil Exploration Exploration for hydrocarbons in waters around the Falkland Islands is at a very early stage. Six wells were drilled in 1998 approximately one hundred kilometres north of the Islands. Quantities of gas and some oil came to surface from two Shell wells and traces of oil were found in others. Subsequent analysis by licensees indicates that a very rich organic source rock is present in the area of the North Falkland Basin. Licence holders Desire Petroleum, Argos Evergreen and Rockhopper Exploration are seeking partners to enable a second drilling round to take place shortly to find the oil. 
Open Door Production Licences have been awarded to Falklands Oil and Gas Ltd and Borders and Southern Petroleum. These licences include a wide area of the South Falkland Basin. Seismic data was collected over these licences in 2005/06. Once these data has been fully processed and interpreted wells are expected to follow. These would be the first bore holes in the basin.The SCA or Special Co-operation Area lies to the west of the Islands and is set aside for joint licensing with Argentina. Further work on regime policy is needed in order to licence this shared area. Onshore minerals exploration Gold and rare minerals An exploration licence covering much of the Falkland Islands is held by Falkland Gold and Minerals Limited (FGML). The company share holders comprise, RAB Capital Limited, Falkland Islands Company Limited, and Global Petroleum Limited. A two year work programme that started in early 2004 has been agreed for FGML and comprised an aeromagnetic survey over the majority of the Islands and stream sampling, field work and assaying in 2004/5 and coring areas of interest identified by the aeromagnetic survey in 2005/6. ;)
Complex GeologyA geological map of the Falkland Islands is now available following three years research by geologists working for the Falkland Islands Government. To get a copy either email kstephenson@mineralresources.gov.fk for details or go to the retail outlet on this site. Attractive geological brochures are also available. Peat is plentiful; it was traditionally used as a fuel but few houses now have peat stoves. Calcified seaweed from some beaches around the Islands is being used as a liming agent to improve pasture for farmers. The material being used is from raised beaches and no dredging of the coralline algae beds is allowed.  Details regarding the mineral resources of the Falkland Islands can be obtained from: Department of Mineral Resources Stanley Falkland Islands Tel: 00 500 27322 Fax: 00 500 27321 e-mail: ablake@mineralresources.gov.fk British Geological Survey Murchison House West Mains Road Edinburgh ER9 3LA Scotland Tel: 044 131 667 1000 Fax: 044 131 6682683 e-mail: pcr@bgs.ac.uk For more information on minerals exploration in the Falkland Islands, you could also try: Department of Mineral Resources Falklands Government British Geological Survey Falklands Islands Company Borders and Southern Petroleum Desire Petroleum Falklands Oil and Gas Limited Rockhopper Exploration Falkland Gold and Minerals Limited |
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