Premier Oil and partner Rockhopper Exploration in the Sea Lion field development prospect off the Falkland Islands have agreed a farm-in deal in an effort to grease the wheels of financing for the proposed project.

Israeli player Navitas Petroleum is set to acquire a 30% interest in Sea Lion licences PL032, PL004b and PL004c under a newly minted heads of terms that will leave UK operator Premier with 40% and Rockhopper on 30% to align stakes across the permits.