Falklands’ oil, in June upgrade begins in Asia to adapt Aoka Mizu FPSO to Sea Lion development needs

AI Summary

Rockhopper Exploration and Navitas Petroleum are advancing the Sea Lion oil development in the North Falkland Basin. The project currently utilizes the Aoka Mizu FPSO with 55,000 barrels per day capacity, and a new memorandum could expand production by an additional 125,000 barrels per day.

Rockhopper Exploration (AIM:RKH), has highlighted progress at the Sea Lion oil development in the North Falkland Basin, operated by Navitas Petroleum. The first two phases will use the Aoka Mizu FPSO with capacity of 55,000 barrels per day, while a new memorandum of understanding for a second FPSO could lift total capacity by a further 125,000 barrels per day, significantly expanding the project’s production potential if implemented.