The British Geological Survey has concluded that the North Falkland Basin contains the second richest documented source rock in the world. They predict that as much as 100 billion barrels of oil have been expelled, much of which could still be trapped beneath the regional seal (Richards and Hillier, 2000). Despite this encouraging hypothesis, during the 50-year exploration history of the area, only six wells have been drilled. These all lie in a small area, and to date there has been no commercial production, although live oil has been recovered to the surface.

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