Gulf Oil and Gas accountACCOUNT

Sea Lion Project Update

Source: www.gulfoilandgas.com 8/22/2019, Location: South America

Rockhopper Exploration plc (RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin and the Greater Mediterranean region, is pleased to provide a progress update regarding its Sea Lion development (the “Project”), in line with updates being provided by Premier Oil plc (Project operator).

Highlights

- Through the post-FEED optimisation process, the Project has been substantially de-risked from a technical, cost and schedule perspective

- Resources to be developed in Phase 1 of the Project have increased from 220 to 250 million barrels (gross) with associated capex to first oil estimated at approximately US$1.8 billion (gross)

- Key service and supply contracts are nearing final agreement in preparation for execution at Project sanction - Continued focus on securing senior debt funding ahead of final investment decision

- Preliminary Information Memorandum (“PIM”) and comprehensive set of independent expert reports, which formed the basis of a financing guarantee application package for the senior debt component of the Project financing, were submitted to potential senior lenders including export credit agencies in July 2019

Sam Moody, CEO of Rockhopper, commented:

“The Project continues to build momentum with significant progress being made across key areas, all with the aim of moving into the execution phase post sanction. The PIM submission in late July has kicked off the formal application process for the senior debt financing guarantees for which we expect initial feedback in Q4 2019.”

Development News in Falkland Islands >>

Congo >>  8/10/2020 - Zenith Energy Ltd. has incorporated Zenith Energy Congo SA (“Zenith Congo”), a fully owned subsidiary of the Company, created under the laws of the Re...
Iran >>  8/8/2020 - The third generation of sucker-rod pump (SRP) was installed for the first time in ??West Karoun oil fields at well No. 14 of North Yaran field and inc...

Australia >>  8/4/2020 - The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has accepted an Offshore Project Proposal (OPP) from Shell Aus...
Australia >>  8/4/2020 - The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has accepted an Offshore Project Proposal (OPP) from Shell Aus...

Vietnam >>  8/4/2020 - Pharos Energy plc, an independent oil and gas exploration and production company, has announced that the Joint Operating Company's (JOC) request for a...
Canada >>  8/3/2020 - Calima Energy Ltd’s core assets are the Calima lands that lie within the liquids-rich gas sweet-spot of the Montney Formation in British Columbia, Can...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Falkland Islands Oil & Gas 1 >> 

Oil & Gas Projects in Falkland Islands >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.