Rockhopper Exploration plc has secured a two-year extension to its licences in the North Falkland Basin.
TRANSACTION
The additional period was granted as part of the transaction, expected to complete during Q3 2022, of the change in companies involved in the project.
Rockhopper added that the Falkland Islands Government and the UK Secretary of State had received all regulatory consents required for the agreement between the company, Harbour Energy plc and Navitas Petroleum LP.
The deal will see Harbour exit the Falkland Islands and Navitas enter the licences.
EXTENSION
“As part of the transaction, FIG has agreed to grant a two-year licence extension to all the licences held by Rockhopper in the North Falkland Basin,” said Rockhopper in a statement.
“Accordingly, the licences will now run until 1 November 2024.”