- Oil company Rockhopper Exploration said it would pick up part of Harbour Energy's stake in the Sea Lion project offshore the Falklands Islands.

Harbor Energy was exiting the Falklands, with remaining partners Rockhopper and Navitas to align working interests across all their Falkland licences at 35% to Rockhopper 35% and 65% to Navitas.

Rockhopper and Navitas would jointly develop and agree a technical and financing plan to enable the development of the project.

Rockhopper also said its share of Sea Lion costs up to a final investment decision would be funded through a loan from Navitas with interest charged at 8% per annum.

Story provided by