Rockhopper Exploration oil and gas company which last year agreed to jointly develop the Sea Lion project at the North Falkland Basin with Israel's Navitas as leading financer and operator, announced that following discussions, the Falkland Islands Government had agreed to extend the company's licenses at the South Falkland Basin.
Rockhopper holds a 100% interest in the South Falkland Basin licenses which were due to expire on 3 December, but as a result of negotiations with FIG they have been extended until 3 December 2024 with no additional license commitments.
Samuel Moody, Rockhopper's CEO commented , the company is grateful to the Falkland Islands Government for the extension of its South Falkland Basin license interests. Whilst our primary focus is on working with Navitas to bring the Sea Lion development in the North Falkland Basin to fruition, this extension will enable us to progress our understanding of these highly prospective licenses in the south of the Falklands.
CEO Moody mentioned in particular, the PL011 license adjoining the Borders & Southern Darwin discovery, which offer the opportunity for future regional development in the Falklands”