Tens of millions of dollars have gone into the quest for commercial quantities of hydrocarbons in the North Falklands Basin, the South Atlantic Waters most frequently associated with large commercially viable deposit.

Despite optimistic scientific assessments, seismic surveys and encouraging incentives from the Falklands and British governments, the drilling hasn't yielded significant results. The oil firms remain hopeful, however.

The oil quest is bitterly opposed by Argentina, which claims sovereignty over the British overseas territory. Argentina invaded the islands in 1982 but was repulsed by British forces in a 74-day conflict that led to more than 1,000 deaths among military personnel on both sides and civilian Falklanders.

A new advanced technology ship sailed into Port William, a large inlet on the east coast of East Falkland island, to mark the beginning of a new phase of undersea exploration.

The 433-foot-long MS Beluga SkySails created a stir when it appeared at the port. Its German owners claim Beluga SkySails is the world's first vessel partially powered by a giant computer-controlled kite, similar to a huge paraglider, that can stretch up to 6,500 square feet.

The kite is attached to the ship by a rope system and is deployed from an automatic pod, officials said. The system can control the kite at heights of 1,650 feet to maximize the benefit of wind power.

Industry experts said the system was designed to make significant savings on fuel costs.

The Beluga SkySails carried 5,000 tons of oil and gas equipment for Rockhopper Exploration, one of the companies involved with exploration in the Falkland waters.

Desire Petroleum and Rockhopper this week announced they spudded a new exploration well on the Ninky prospect in the North Falkland Basin, South Atlantic.

The well is designed to test a "combined structural dip and stratigraphic pinch-out trap" with multiple reservoir targets. The drilling to 8,596 feet is expected to be completed in a month, Desire Petroleum said.

Desire has a 92.5 percent stake in the Ninky prospect and Rockhopper Exploration has the other 7.5 percent.

After several setbacks, interest in the Falklands oil prospects was revived by Rockhopper's successful Sea Lion appraisal well, which increased the company's confidence in the commercial viability of the Sea Lion Field.

The latest Sea Lion well discovered a significant column of oil this month, giving operators and investors alike hope that at least some of the exploration could bear results. Full results of prospects for Ninky would be known in about a month.

Rockhopper is also due to start its exploration program later this year.

Desire, Rockhopper and Argos Resources have invested additional funds into seismic surveys that are currently under way.

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