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Rockhopper Exploration provides update on the Sea Lion Development


Published Feb 10, 2014
Rockhopper Exploration plc

Rockhopper Exploration plc, the North Falkland Basin oil and gas exploration company, advises shareholders that Premier Oil will provide an update on the Sea Lion Development at a Capital Markets Day.

The following details of the Sea Lion Development using a Tension Leg Platform ("TLP") concept will be disclosed:

Costs (unescalated in 2013 money):

It is estimated capital costs (gross) for Phase 1 of the Sea Lion development will total $5.2 billion comprising $3.5bn for surface facilities and $1.7bn for drilling. Capital expenditure to first oil is expected to be $3.8bn. Annual operating expenditure (gross) is expected to average $260 million including Floating Storage Unit rental and well interventions.

Tags: Rockhopper Exploration plc




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