article_snippet.sent: After nine months of exploratory drilling, a group of British companies found oil and gas in a remote field north of the islands.
article_snippet.sent: Yesterday’s discovery, which could yield 100 million barrels of oil, was announced by the British firms that share the exploration area, Premier Oil, Rockhopper Exploration and Falkland Oil & Gas.
article_snippet.sent: Malcolm Graham-Wood, an oil industry expert and founder of the consultancy HydroCarbon Capital, said: ‘This is good for Britain, good for British oil companies, good for taxes and good for the industry.
article_snippet.sent: A map shows Falkland Oil & Gas has been discovered 130 north of the island by British companies at the Zebedee oil well .
article_snippet.sent: This is a fantastic start to the 2015 Falklands drilling campaign and provides early proof of the significant remaining potential of the North Falkland Basin.
article_snippet.sent: ’ Shares in British companies at the Zebedee oil well initially soared to double digits after the discovery was announced.
article_snippet.sent: However, Mr Graham-Wood said: ‘Oil is always found in difficult places, geographically and politically – look at Alaska, for instance –
article_snippet.sent: ’ Oil expert Charlie Sharp, of the investment bank Canaccord Genuity, said the discovery was ‘an excellent start to the exploration campaign’.
article_snippet.sent: the discovery follows another made nearby in 2012 through a project called Sea Lion, but the price of oil has halved since June, forcing many explorers to cut back on spending.
article_snippet.sent: Stephane Foucaud, oil analyst at First Energy, said the discovery is ‘encouraging news’, but another well – called Isobel Deep, 15 miles to the south – is the ‘most important’ in the area.
highlights_snippet.sent: British companies found oil and gas in a remote field north of the islands .
  