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…
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.
Navitas continues to estimate Capex to first oil on phase 1 of c$1.4 billion and in this regard has entered into a number of FEED agreements including an MoU for an FPSO which is currently operating in the North Sea, along with various agreements relating to the provision of subsea equipment.
According to Rockhopper’s report, Navitas’ target for FID remains mid-year 2025.
The announcement follows the updated NFB independent resource report conducted by Netherland Sewell & Associates (NSAI), released in March 2025, on behalf of Navitas.
The report reflects work carried out to mature the resource base and accelerates later phases of the development program in the build up to FID.
Overall resources at Sea Lion remain unchanged. As a result of the work carried out, a significant number of barrels have been moved from ‘Development On Hold’ to ‘Development Pending’ classification.
The new March 2025 NSAI report, which Rockhopper said it had not reviewed, categorizes the Sea Lion resources into the several developments, including Northern area with
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