
Rockhopper Exploration half year results indicate that the UK oil and gas company is more hopeful than ever that a final investment decision will come this year on the Sea Lion oil project in the Falkland Islands, after it secured a successful capital raise of up to US$ 140 milliom. Rockhopper holds a 35% interest in the project with the Israeli operator Navitas Petroleum holding the remaining 65%.

Last Friday following a negative electoral week for the government of Argentine president Javier Milei, which forced him to reshape his economic program, and open the tight purse of the budget, looking ahead to the midterm election in October, (and ahead of the arrival of the new British ambassador in Buenos Aires), the Falkland Islands, this time hydrocarbons development, were again the target of Argentine political frustration.

The Falkland Islands Government (FIG) and Navitas will hold a public meeting to present the findings from social and economic impact assessments of the proposed Sea Lion hydrocarbons project.

Dutch offshore company Bluewater has reached an agreement in principle to extend the deployment of the Aoka Mizu FPSO on the UK’s Lancaster oilfield, a move that could set the stage for the vessel’s future redeployment to the Falkland Islands' Sea Lion project.

A final investment decision (FID) for the Sea Lion development offshore the Falkland Islands could be reached in mid-2025, according to Rockhopper, which is partner in the project with the operator Navitas Petroleum from Israel.

Rockhopper Exploration plc, the oil and gas company with key interests in the North Falkland Basin (“NFB”), has reported on the recent update published by Navitas Petroleum LP on Sea Lion development progress, which includes an updated NFB independent resource report conducted by Netherland Sewell & Associates (“NSAI”) (the “October 2024 NSAI Independent Report”) on behalf of Navitas.

Following the public consultation for the Environmental Impact Statement (EIS) for the Sea Lion Field Northern Development Area, Phase 1 and 2, submitted by Navitas Petroleum Development and Production Limited, the Executive Council (ExCo) considered the representations made, responses, and further information at an extraordinary meeting held on Thursday, November 7.

On Tuesday 2 July 2024 it was announced that Navitas Petroleum Development and Production Ltd (Navitas) 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.

Falklands Conservation has published initial views on the Navitas oil company Environmental Impact Statement (EIS) and encourages people to comment on the report. This is of course welcome but their statement that essential information on key animal groups is missing, is misleading. It states that ‘the presented seabird data is more than 20 years old’.

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.