Rockhopper Exploration has informed that the operator Navitas Petroleum is studying an accelerated expansion of the Sea Lion offshore oil development north of the…
Rockhopper Exploration has informed that the operator Navitas Petroleum is studying an accelerated expansion of the Sea Lion offshore oil development north of the Falkland Islands after signing a memorandum of understanding for a second floating production, storage and offloading vessel (FPSO).
The additional FPSO could raise Sea Lion production capacity by a further 125,000 barrels of oil per day, in addition to the 55,000 bopd planned from the first two phases of development, Rockhopper said.
Rockhopper, which holds a 35% working interest in Sea Lion, said the proposed second FPSO could add about 43,750 bopd net to the company. It added there was no guarantee the memorandum of understanding would result in binding agreements.
The update comes several months after Sea Lion partners approved a final investment decision for Phase 1 of the long-delayed North Falkland Basin project, which targets first oil in 2028.
Navitas, which holds the remaining 65% interest in Sea Lion, also said development work on the Falkland Islands had started, initially focused on preparing the dock and shore base facilities. Construction of worker accommodation and additional infrastructure linked to future drilling activities
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