A Premier Oil-led consortium is working to line up financing for the proposed Sea Lion development off the Falkland Islands in the South Atlantic, with its partner suggesting that a final investment decision on the first phase project is expected by the end of the year.
Rockhopper, which holds a 40% non-operating interest in Sea Lion alongside Premier’s 60% operating interest, said letters of intent have been signed with “selected preferred contractors” covering the principal commercial terms for the “provision of services and vendor financing”.
