Consents issued for Navitas offshore Falklands Sea Lion transaction
July 26, 2022
All regulatory consents have come through for Harbour Energy’s transfer of its Falklands Islands offshore license interests to Navitas Petroleum LP.
Courtesy Rockhopper Exploration
Rockhopper illustrates the Sea Lion proven development concept.
Offshore staff
LONDON — All regulatory consents have come through for Harbour Energy’s transfer of its Falklands Islands offshore license interests to Navitas Petroleum LP.
According to partner Rockhopper Exploration, both the Falkland Islands government and the UK Secretary of State have issued approvals.
As part of the transaction, the Falklands government has granted a two-year extension to all the licenses held by Rockhopper in the North Falkland basin until Nov. 1, 2024.
The transaction remains subject to certain other conditions but should formally complete during the current quarter.
In April, Navitas Petroleum and Rockhopper Exploration signed binding documents concerning their petroleum licenses in the offshore North Falkland basin that would lay the basis for a new technical and financing plan for a lower-cost development of the Sea Lion area.
In May, Rockhopper and Navitas said they were considering use of a redeployed FPSO for their Sea Lion field development in the offshore North Falkland Basin.
