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Financial Information and News

Regeneris Completes of Oil and Gas Study

Regeneris Completes Socio-Economic Study of Oil and Gas Development in the Falklands

By J. Brock (FINN)

Regeneris Consulting have proposed a series of recommendations that will be the subject of review within the Falkland Islands Government. A period of public consultation is also planned, with further details to be announced in the near future.

Head of Policy for the Falkland Islands Government, Jamie Fotheringham, said of the report: The socio-economic impact study is a significant step forward in our understanding of what the emerging oil and gas industry might mean for the Islands. It provides a sound basis for FIG to further develop its oil readiness planning, and I hope it will also stimulate debate in the community as to what local people and businesses wish to see in terms of possible changes to Islands life  and what they dont want to see.

One of the key findings of the report was that the proposed development of the Sea Lion field by Premier Oil, along with known forthcoming exploration and related infrastructure development will generate significant employment, development and economic opportunities for the Falkland Islands over the next 5 years.

Regeneris Consulting were commissioned by the Falkland Islands Government in November 2012 to carry out a socio-economic study on hydrocarbons development in the Islands, in order to inform FIG planning for the emerging oil and gas industry. The study examined the potential impacts of a number of possible scenarios for oil and gas development in the Islands, and the possible impacts on population (both temporary and permanent), jobs, business opportunities, housing and infrastructure.

The report is available to download from the following link: http://bit.ly/1dqsMhd

Copies of the report can be obtained by contacting the Policy Unit on 28421 or emailing snightingale@sec.gov.fk



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