Harbour Energy (formed with the merger of Premier and Chrysaor) announced it will not proceed with the Sea Lion development in the Falkland Islands. The producer will instead focus on the successful integration of Premier Oil’s assets. Sea Lion, discovered in 2010 by Rockhopper, is estimated to hold more than 500 million bbl, but development startup has been stuck in neutral. Rockhopper intends to pursue the project and will talk with other operators about participating in the wake of Harbour’s exit.
Harbour also revealed plans to exit exploration license interests in the Ceará basin in Brazil and the Burgos basin in Mexico. The operator said it wants to reinvest in lower-risk opportunities in regions where the company already has a presence. Harbour is the largest UK-listed independent oil and gas producer with most of its assets located in Southeast Asia and the North Sea.