Fossil Energy – Falkland Islands
Rockhopper Exploration, the oil and gas company with key interests in the North Falkland Basin, announced that its Board has taken a final investment decision (FID) relating to the development of Phase 1 of the Sea Lion field located offshore to the north of the Falkland Islands.
Partner and Operator, Navitas Petroleum Development and Production, has also taken FID relating to the Project.
As a prerequisite of taking FID, the Boards of both companies have approved the financing arrangements and signed the relevant documentation required to fund Phase 1 of the Project.
Financial close of the Financing is subject to a limited number of customary conditions precedent, and Rockhopper expects this to occur over the coming weeks.
