LONDON (Alliance News) - Rockhopper Exploration PLC Friday said Premier Oil PLC, which operates the Sea Lion Field in the North Falkland basin, has awarded an engineering and design contract to AMEC PLC.
Rockhopper, a oil and gas exploration company which holds a 40% interest in the Sea Lion field, said the award of the Tension Leg Platform Front End Engineering and Design contract to AMEC was made as part of ongoing pre-development activities at the site.
The company added that in the second half of the year a geotechnical survey will be performed at the Sea Lion location and the results of this will be incorporated into the design process, which should take around 12 months.
"This is a highly significant milestone in our plans to develop the discovery and comes on the back of our recent announcement that a rig has been signed to undertake a new exploration drilling campaign in the North Falkland Basin early next year," Rockhopper Chief Executive Sam Moody said in a statement Friday.
The Sea Lion project is expected to start producing oil in late 2018 and will require an estimated USD5.2 billion in investment.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Rockhopper (RKH)