Borders & Southern receives extensions for offshore Falkland Island licenses

Borders & Southern Petroleum PLC has been granted extensions for Production Licenses PL018, PL019, and PL020, including the Darwin discovery area, offshore the Falkland Islands.

After applying for a 2-year extension, the comapny received confirmation from the Falkland Islands Government that the revised expiration date of the three licenses will now be Dec. 31, 2026. The licenses had been set to expire on Dec. 31, 2024. 

Harry Baker, chief executive officer of Borders & Southern, said the company's "prime focus" remains monetization of the Darwin gas condensate discovery that he said contains 462 million bbl of recoverable liquids plus material upside. The company is looking to find a "suitable partner" for appraisal, he said.

"The license extensions will allow us to continue our search for a partner and move the Darwin discovery forward by either testing Darwin East or drilling another target," Baker said.