Offshore Falklands partners in talks with Diamond on Sea Lion rig

Diamond Offshore Drilling has a letter of intent to provide a rig to drill the Phase 1 wells for Premier Oil’s Sea Lion project in the offshore North Falkland basin.

Offshore staff

LONDON – Diamond Offshore Drilling has a letter of intent (LoI) to provide a rig to drill the Phase 1 wells for Premier Oil’s Sea Lion project in the offshore North Falkland basin.

According to Premier’s partner Rockhopper Exploration, this entails a period of exclusivity until end-December 2018, during which the parties will negotiate binding documentation based on agreed principles, including vendor financing.

Samuel Moody, CEO of Rockhopper, said: “Having already signed LoIs for the provision of well services and logistical support, focus now moves to the subsea equipment suppliers where we hope to make progress during the remainder of 1Q as we continue discussions on the senior debt element of the financing plan.”

02/05/2018

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