The first phase of the delayed Sea Lion field development off the Falkland Islands is closing in on senior debt funding ahead of a final investment decision, project partner Rockhopper Exploration said.

Operator Premier Oil recently raised its estimate for resources to be developed in the first phase of the project’s development. The revised estimate of 250 million barrels of oil is up from a previous figure of 220 million, while capital expenditure for the initial phase is now estimated at around $1.8