Argentina has reaffirmed its sovereign rights over the Falkland Islands, South Georgia, South Sandwich Islands, and the surrounding maritime spaces. The Sea Lion oilfield. The United Kingdom planned to extract 500 million barrels of oil from the Falkland Islands, which could generate millions in revenue for the island government. The Israeli company Navitas Petroleum will be in charge of drilling and exploitation at Sea Lion, 200 kilometers north of Stanley. According to estimates, the field “contains a total of 1.7 billion barrels of oil, making it several times larger than Rosebank, the largest planned development in the UK's own North Sea, which is estimated to contain 300 million barrels”. Buenos Aires, April 2 (NA) – Argentina's claim to sovereignty over the Falkland Islands opened a new chapter at the end of 2025, when the Argentine Foreign Ministry expressed its “energetic rejection” of the announcement made by the British company Rockhopper Exploration Plc and the Israeli company Navitas Petroleum regarding the supposed “Final Investment Decision” to begin developing the Sea Lion field, located in the North Falkland Basin, off the Falkland Islands, without authorization from the competent Argentine authority. In that document, the Government recalled that any unilateral exploration or exploitation of natural resources in areas subject to a sovereignty dispute contravenes United Nations resolutions 2065 (XX), 31/49 and subsequent ones, which recognize the dispute between Argentina and the United Kingdom and urge both parties to refrain from unilateral modifications while a negotiated solution is pending. Furthermore, Argentina extended its rejection to all acts associated with the move to the production phase, from the adoption of island regulations to the hiring of suppliers, as these activities are “illegal and incompatible with the Argentine legal framework”, especially with laws 26.659 and 26.915, which prohibit operating on the continental shelf without national permission. Something that was ratified this Thursday by President Javier Milei. The communiqué recalled that both companies have already been sanctioned: Rockhopper was declared clandestine and suspended for 20 years through resolutions from 2012 and 2013, while Navitas received equivalent sanctions in 2022 for operating without authorization. The Foreign Ministry warned that any natural or legal person who participates directly or indirectly in these ventures will be exposed to administrative, legal, and judicial measures, including operational restrictions, disqualifications, and actions in national and international jurisdictions. The Government stated that the new announcements constitute a “unilateral act with potentially irreversible future effects,” as they involve non-renewable resources, and assured that it will deepen its action plan to adopt all necessary measures in accordance with international law. Agencia Noticias Argentinas - Journalism. Dollar.
