Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin (“NFB”), has announced it has put in place an insurance policy to cover the event that the Italian Republic succeeds in its attempt to have the Rockhopper Ombrina Mare Arbitration Award annulled and has also signed a share purchase agreement with Zodiac Energy Limited to exit its other Italian assets.
The Israeli/US company preparing to extract oil from Falkland Islands waters, Navitas Petroleum Development and Production Ltd. (Navitas) has issued a revised Environmental Impact Statement (EIS) concerning its proposals for the drilling of oil wells and offshore production from the Sea Lion Field Northern Development Area, Phase 1 and 2, which includes additional information on atmospheric emissions.
Following the approval at an extraordinary sitting of the Executive Council on Monday 17 June, the Falkland Islands Government has begun a public consultation from Monday 24 June to Monday 5 August 2024, on the Environmental Impact Statement (EIS) for the Sea Lion Field Northern Development Area, Phase 1 and 2, which Navitas Petroleum Development and Production Limited have submitted.
Rockhopper Exploration PLC has released a corporate update in which it refers to the recent release published by Navitas Petroleum LP on the Sea Lion development in the North Falkland basin. The release includes an updated development plan to align with their static and dynamic reservoir models, resulting in the increase in certified resources in an updated NFB independent resource report conducted by Netherland Sewell & Associates on behalf of Navitas.
Uruguayan authorities said the first case of a sea lion with avian influenza had been detected in the country after a specimen was found dead on the Cerro beach on Aug. 31 and the laboratory tests were announced Tuesday, it was reported in Montevideo.
A final investment decision for the long-stalled Sea Lion development offshore the Falkland Islands could be reached in 2024, Rockhopper, a partner in the project announced in its site, after Navitas Petroleum, the project operator, presented it with an updated development plan.
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.
The Argentine Secretary of Malvinas affairs has included another oil company with interests in the Falklands hydrocarbons industry in the “list of bad boys” for allegedly operating without authorization from Argentina.
Positive news for Falklands' oil industry development. All regulatory consents for the transaction between Harbour Energy plc and Israel's Navitas Petroleum LP of its Falkland Islands offshore license interests have been approved by the Falkland Islands government and the United Kingdom minister of state.
Israel's Navitas Petroleum has been banned from all activities in Argentina for the next twenty years for involvement in the hydrocarbons industry in the Falklands/Malvinas zone without Argentine permission.