Navitas Petroleum LP NVPT

The Israeli company signed an agreement to acquire a vessel that will be retrofitted to serve as a second floating production, storage and offloading platform for the under-construction Sea Lion oil development in the Falkland Islands.

In May 2026, Rockhopper Exploration reported that Navitas Petroleum updated progress on the Sea Lion project, including a new FPSO MOU, a relocation of Aoka Mizu upgrade work from the Middle East to Asia adding about US$45 million to the budget, and a Phase 1 first-oil timeline still targeting the first half of 2028. On the same day, Navitas also reported lower first-quarter 2026 earnings and agreed to farm into and operate Block 1 CBK offshore South Africa, underscoring a growing offshore...