By Irenea Renuncio
On 23 April 2012 UK-based energy exploration company Borders & Southern announced a ‘significant gas condensate discovery’ in the South Falklands Basin.
Although Borders & Southern have said ‘it is too early to give an accurate resource estimate’, it also declared that the South Falklands Basin is likely to hold ‘significant volumes’ of gas at the basin’s Darwin well and described the basin’s potential as ‘exciting’.
Borders & Southern’s discovery is, however, overshadowed by growing tensions between the UK and Argentina over the Falklands. While the discovery highlights the potential for further significant oil and gas discoveries in the South Falklands Basin, it is also likely to further increase bilateral tensions over the islands. (more…)