Rockhopper and Premier say on track for Malvinas oil in 2017

Rockhopper, the exploration company drilling in the South Atlantic Ocean, said oil will flow from the Malvinas Islands seabed for the first time by 2017, The Guardian reported today.

Announcing the completion of a £600m tie-up with Premier Oil, Rockhopper said it was on track to pump oil from its Sea Lion field by the third quarter of 2017 and was working with its bigger partner to develop other prospects in the area.

Sam Moody, chief executive of Rockhopper, said: "With the completion of this transformational deal, Rockhopper is now fully funded to first take oil from Sea Lion in 2017 and for a three-well exploration programme targeted for 2014.