The UK-based Rockhopper Exploration and Israel’s Navitas Petroleum have taken a final investment decision (FID) on the Sea Lion oilfield development located offshore the Falkland Islands, paving the way for the first producing project in this British Overseas Territory (Rockhopper Exploration press release, 10/11/2025).
The Sea Lion field, located approximately 220 km north of the Falkland Islands, contains an estimated 319 mbl of certified oil resources. Phase 1 of the development targets 170 mbl and is designed to deliver peak production of around 50 kb/d, with first oil targeted for the first half of 2028. Subsequent phases are expected to be self-financing using the excess cash flows of Phase 1.
The field was discovered in 2010. Navitas Petroleum, through its subsidiary Navitas Petroleum Development and Production (NPDP), holds a 65% interest in the project, with Rockhopper Exploration holding the remaining 35%.
The Sea Lion project has experienced multiple delays, with several FID target dates in 2016, 2017, 2018, 2023-24, and 2024, all of which were missed. The project was revived by Navitas Petroleum after acquiring a 65% operator stake in 2022, and the Falkland Islands government has approved the field development and production programme for Phases 1 and 2.