Malvinas: Rockhopper buys stake in company to advance Sea Lion oil project
The British company is challenging Argentina’s sanctions by acquiring a 35% stake in a floating production platform La entrada Malvinas: Rockhopper buys stake in company to advance Sea Lion oil project se publicó primero en Buenos Aires Herald .
British oil company Rockhopper has acquired a 35% stake in the Sea Lion oil project, located near the Malvinas Islands, in an effort to advance its operations despite Argentina's sanctions. The deal, valued at US$44 million, involves acquiring 35% of SPV, which owns the OSX-1 floating production, storage, and offloading (FPSO) vessel.
Rockhopper and Israel's Navitas, holding a 65% stake, aim to become the first oil-producing project in the islands, with production expected to commence in 2028. The South Atlantic archipelago remains a disputed territory between Argentina and the UK. The project, costing US$1.8 billion to first oil, is expected to last 30 years, with the OSX-1 unit facilitating production of up to 180,000 barrels per day by 2030.
Written by urgent.news from Buenos Aires Herald's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
