Monday, August 31st 2026 - 08:47 UTC
The incorporated asset carries an aggregate cost of US$125 million and will target the so-called central development area, CDA, of the Sea Lion field.
Rockhopper Exploration is planning an equity capital raising to fund its share of a second FPSO, (OSX-1), for the Sea Lion oil field development in the Falkland Islands, since operator Navitas Petroleum exercised its option to acquire the vessel for some US$ 125 million with the purpose of further adding production to 125.000 barrels of oil per day.
According to information from oil and gas industry international agencies, Navitas will initially fund 100% of the OSX-1, while partners determine how she will be incorporated to the increased Sea Lion project. Rockhopper that is a non-operating partner of the development with a 35% share and Sea Lion license-holder, announced that it will require extra funding to acquire its percentage rata interest in the FPSO and other expenditures.
Rockhopper affirmed that “Navitas has provided an update that it has (through a subsidiary) exercised an option to acquire the second FPSO, named the OSX-1, and the completion of the acquisition is expected during the coming month.”
