FALKLAND ISLANDS GOVERNMENT
PRESS STATEMENT
10 December 2025
FIG Notes Final Investment Decisions for Sea Lion Development Programme
The Falkland Islands Government notes that Navitas Petroleum Development and Production Ltd and Rockhopper Exploration Plc have taken their Final Investment Decisions to invest in the Development Programme for the Northern Area of the Sea Lion Field.
A number of reports were considered and approved by Executive Council during October 2025 in relation to offshore minerals, and associated issues.
The reports covered a range of matters including clarification of tax treatment for various project costs, establishing the key principles for petroleum valuation methodology, provision of security for investors involved with Project Sea Lion and matters relating to access to land required to support Project Sea Lion.
Executive Council also approved the development and production programme, under the model clauses of the extant production licences, for phases 1 and 2 of the Northern Development Area of the Sea Lion Field.
The condition precedent set out by Executive Council has now been met and therefore the approvals previously made have gone live.
For further information about this please contact the Department of Mineral Resources at Directorate of Natural resources, ByPass Road, Stanley, Falkland Islands or on email: [email protected].
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ENDS