Posted on 07/08/2026 9:04:24 PM PDT by MinorityRepublican
For decades, the economy of the Falkland Islands has relied mainly on squid and sheep.
Now, however, the prospect of an oil boom stands to transform the tiny overseas territory — and reignite sovereignty tensions between Argentina and the UK.
Construction has begun on the infrastructure needed to drill Sea Lion, an oilfield 220km to the north of the Falklands. The first oil is expected in March 2028, reaching a maximum of 50,000 barrels per day in 2032.
While relatively small among offshore oil projects, Sea Lion has the potential to triple the Falklands’ current GDP.
The peak taxes and royalties projected by Sea Lion’s owners, Israel’s Navitas Petroleum and the UK’s Rockhopper, would be equivalent to some £80,000 a year for each of the roughly 3,500 islanders.
“Many have thought this is a white elephant, that it would never happen, but Navitas seems to be pushing through that fatigue,” said Stirling Harcus, who chairs the islands’ chamber of commerce. “Moving into the production phase will be transformational for the Falklands.”
(Excerpt) Read more at ft.com ...
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I’m amazed the UK is letting them drill.
If England plays Argentina in the WC, the winner gets The Falklands.
It’s not in England’s hemisphere.
The Falklands Islands are British overseas territory (part of the UK, not part of England).
Have been claimed by the Brits longer than we've been a country:
In 1765, Captain John Byron was searching for the mythical Pepys Island. Byron explored Saunders Island, which lies 1.5 miles (2.5 km) off the coast of West Falkland. He named the harbour Port Egmont, and claimed this and other islands for Britain, on the grounds of prior discovery. The next year Captain John MacBride established a British settlement at Port Egmont.
Argentina itself has massive oil shale deposits but lacks the expertise, equipment, and supply chain to develop them. That means making deals with US oil companies — a great irritant to the Argentine sense of pride.
I don’t know why Argentina has to want to go to war to acquire the Falklands because it just discovered oil.
Argentina has its own oil production, including major shale oil resources in the Vaca Muerta formation, and it has been producing crude oil at near-record levels in recent years.
Argentina’s problem has not been a lack of hydrocarbons alone, but a mix of investment, infrastructure, and demand-side constraints.
,,, right now the UK doesn't know it's elbow from it's butt. If it's 220km out from the Falklands it's probably out of their economic zone.
It was always about oil. Vast relative shallow areas rife with oil. Relative shallow means less than 2000 feet of water depth and much less. Those Islands have very little value least oil. It is all about oil.
Nobody cared until oil was discovered and technology advanced to recover deep sea oil.
It's ~140 miles from shore, and the EEZ extends 200 miles.
Thank you.
Tough crap for them. Somehow though the government in London is not making the locals sacrifice to Gaia.
#2 The politicians are blocking oil drilling in England...
And when they continue to explore the area around the Falklands they will no doubt find more oil.
Article from 15 September 2020
From June 4, 2025
U.S. oil production: A peak in sight
Fear, always fear. The Left is always pushing fear.
In years gone by, our resident Freeper oil expert provided testimony
The oil off Brazil is the same oil off Angola. The geology off South America is identical to that in Angola Africa. Africa separated and moved away from South America
Somehow the intermediate in the Falklands just might have some oil that is remnant of the same geologic formation
We have explored a tiny fraction of the oceans of the world.
There is very likely billions of gallons to be found beneath the oceans.
It will eventually be found and the technology to developed to harvest it.
Indeed. The originating comment expressed consternation over any oil drilling being done by the UK.
None of the dirty drilling or work is being done near England, where the vast majority of the UK is, so it is being allowed.
Besides, the UK/England has become pretty poor, with the average income in the poorest US states surpassing that of England.
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