Eco Atlantic Expands to North Falkland Basin Through JHI Acquisition
According to Drilling Contractor, Eco Atlantic signed a binding agreement to acquire all remaining shares of JHI Associates, expanding its upstream exploration portfolio to include the North Falkland Basin. The acquisition adds exposure to the PL001 license in the Falklands, where Eco will partner with Navitas on exploration activity, pending government confirmation. The license is expected to receive a five-year extension for exploration work, while the nearby Sea Lion field targets first oil by 2028.
What It Means for Subcontractors
- Drilling contractors and seismic survey companies could see new opportunities as Eco plans near-term work programs in the Falklands license area
- Logistics and marine support services will be needed for the remote South Atlantic location, potentially creating supply chain opportunities
- Regional infrastructure development around the Sea Lion field’s 2028 startup could generate construction and installation work for multiple projects in the basin
