🇫🇰 Oil field under Falkland Islands even bigger than first thought

A giant oil discovery in the Falkland Islands is even bigger than originally thought, it has emerged.

An independent report into the North Falkland Basin has upgraded estimates of recoverable oil resources from 791m barrels to 917m – twice the annual output of the entire North Sea.

Rockhopper Exploration, the company planning to drill in the field, said it planned to extract 532m barrels, up from a previous estimate of 312m. Most of the remainder could be recovered under further plans.

The government of the Falkland Islands has approved production despite Labour blocking new oil and gas licences shortly after coming into office, risking an embarrassment for Ed Miliband, the Energy Secretary.

The ban does not apply to the territory, which governs itself apart from foreign affairs and defence, which the British Government handles.

https://www.yahoo.com/news/oil-field-under-falkland-islands-173431035.html