Desire Petroleum, which has contracted the rig for the explor­ation in the North Falkland basin, said it hopes to finalise the deal with fellow explorer Rockhopper Exploration in the next few days.

Desire chief executive Ian 
Duncan refused to be tied down to an exact schedule but said he was hopeful the deal would be signed.

“It will not be finalised until it is actually signed but it is a case of dotting the Is and crossing the Ts,” said Duncan.