Located in a water depth of approximately 1,260m, the well is planned to be drilled to a depth of 5,350m and will test multiple stacked reservoirs within the Cretaceous Diomedea fan complex.
The Humpback prospect is located within a cluster of similar prospects, in the Fitzroy sub-basin, which are estimated to have a combined resource of over one billion barrels of oil.
The company expects the well drilling program to take approximately 65 days.
FOGL CEO Tim Bushell said: "The Humpback well is the exciting first test of a new geological play concept within the South and East Falkland basins.
"In the event of encouraging results, we have identified, on 3D seismic, multiple follow-up prospects."
FOGL, which holds 52.5% working interest in the license PL012, will contribute 27.5% of the drilling costs, while the license operator Noble Energy will share the remaining.
FOGL primarily focuses on license areas in the North, South and East of the Falklands Islands.
