Drilling Companies Strike Oil Off The Falklands

Two British companies have announced that they discovered oil and gas reserves off the Falkland Islands.

The find comes at the end of a controversial nine-month drilling campaign.

Falkland Oil and Gas Ltd and Premier Oil Plc say the discovery at the Zebedee well was better than initially expected. The well will now however be plugged and temporarily abandoned.

Further drilling in the North Falkland Basin will continue with the rig being moved to the Isobel Deep well. 

The announcement comes on the 33rd anniversary of the invasion of the Falkland Islands by Argentina and is likely to exacerbate tensions between London and Buenos Aires. 

Argentinian president Christina Fernandez may mention the development when she addresses a ceremony remembering the 649 Argentine military personnel who died in the ill-fated invasion.

The Falklands War ended on 14 June 1982 with the loss of 255 British service personnel and 3 islanders.