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Oil and gas exploration and production company Rockhopper Exploration said it planned to continue with the development of the Sea Lion project in the North Falkland Basin even as Harbour Energy walked away.
Rockhopper confirmed that it was in discussions with Navitas Petroleum LP around its potential entry to the Sea Lion project following Harbour's decision not to proceed.
'Rockhopper notes that Navitas and partners have recently raised project financing in excess of $900 million and taken final investment decision on the 330 million barrel deep water Shenandoah project in the US Gulf of Mexico,' the company said.
The previously announced Heads of Terms with Premier Oil and Navitas will expire on 30 September 2021, and Harbour will have an initial 90 days to elect how to proceed with their exit after expiration.