Offshore staff

STANLEY, Falkland Islands – Noble Energy and Edison International have notified partner Argos Resources of their intention to withdraw from the license PL001 in the offshore North Falkland basin.

Argos intends to take a reassignment of the license from the two companies as covered in an agreement all sides entered into in February 2016.

It has asked the Falkland Islands government for approval for the transfer.

Argos Chairman Ian Thomson said his company remained very positive about the concession’s potential. “We have sufficient cash reserves to meet our ongoing requirements while we progress discussions with the government on the reassignment…and seek to secure other partners to participate in its development.”

10/12/2018