North Falkland Basin

>>>North Falkland Basin
North Falkland Basin 2017-10-18T13:33:06+00:00

Rockhopper’s exploration and appraisal activity in the North Falkland Basin has centred around licences PL032 and PL004 which contain the Sea Lion and the Isobel-Elaine complexes. It is envisaged that Sea Lion will be developed in two phases, with Isobel-Elaine viewed as a potential Phase 3 development.

At a glance

Sea Lion Phase 1 (PL032)

  • Rockhopper 40% working interest
  • 220 mmbbls gross*
    88 mmbbls net to Rockhopper*
  • Targeting FID in 2018, subject to securing funding
  • First oil anticipated in 3.5 years after FID

Sea Lion Phase 2 (PL032/PL004)

  • Rockhopper 40-64% working interest†
  • 300 mmbbls gross*
    120-192 mmbbls net to Rockhopper*

Sea Lion in detail

Phase 3 – Isobel-Elaine (PL004)

  • Rockhopper 64% working interest
  • Isobel-Elaine Complex significantly de-risked during recent NFB exploration campaign

* Operator’s estimate
† Sea Lion Phase 2 straddles licences PL032 in which Rockhopper holds a 40% interest and PL004 in which Rockhopper holds a 64% interest.

Details of recent exploration campaigns

2010-12 campaign

In February 2010, the Ocean Guardian drilling rig arrived in Falklands water to carry out a multi-well drilling campaign. In the spring of 2010, Rockhopper (as operator) drilled its first exploration well on the Sea Lion Prospect which resulted in an oil discovery. The well was successfully flow tested in September 2010.

Following the successful flow test, a further eight exploration wells were drilled by Rockhopper across the Sea Lion Complex, six of those being discoveries. In addition, Rockhopper participated in a further five non-operateed wells in the North Falkland Basin.

2015-16 campaign

In March 2015, the Eirik Raude rig arrived in the North Falkland Basin to commence a multi-well drilling campaign.

Through the course of 2015 and early 2016, oil discoveries were made at Zebedee, Isobel Deep and Isobel-Elaine.