Argentina’s government has launched a process to sanction a number of foreign firms it accuses of illegally drilling for oil in a disputed area near the British-run Falkland Islands, over which the South American country also claims sovereignty.
The country’s energy secretary Darío Martínez told reporters on July 7 it would seek sanctions against U.K.-based Chrysaor Holdings, Harbour Energy and Israeli firm Navitas Petroleum, adding them to eight other firms previously sanctioned between 2011 and 2015.
Reuters could not immediately reach the firms for comment.
Argentina and Britain have long disputed ownership of the Falklands, with Argentina claiming sovereignty over the islands it calls the Malvinas. The dispute led to a brief war in 1982 in which 255 British troops and about 650 Argentine soldiers died.
“The companies are not authorized to operate nor have they requested any type of authorization,” Martinez said at a press conference, adding they were operating with illegal licenses from the “illegitimate authorities” of the Falkland Islands.
Argentina’s current center-left Persons government has ratcheted up rhetoric over the disputed islands, some 403.89 miles of the country’s southeast coast and home to some 2,600 people, mostly of British descent.
The government has appointed a Malvinas minister, saying it will redraw maps to emphasize its claim for use in schools and lobbying at the United Nations.
Recommended Reading
New BOEM Regulations Raise Industry Decommissioning Obligations by $6.9B
2024-04-15 - Under new regulations, the Bureau of Ocean Energy Management estimates the oil and gas industry will be required to provide an additional $6.9 billion in new financial assurances to cover industry decommissioning costs.
US Interior Department Releases Offshore Wind Lease Schedule
2024-04-24 - The U.S. Interior Department’s schedule includes up to a dozen lease sales through 2028 for offshore wind, compared to three for oil and gas lease sales through 2029.
Analyst: Exxon Mobil, Pioneer Deal Close Likely ‘Imminent’
2024-05-01 - With approval from the Federal Trade Commission, Exxon Mobil could close its $59.5 million acquisition of Pioneer Natural Resources after more than six months of review.
US Finalizes Big Reforms to Federal Oil, Gas Drilling
2024-04-12 - Under the new policy, drilling is limited in wildlife and cultural areas and oil and gas companies will pay higher bonding rates to cover the cost of plugging abandoned oil and gas wells, among other higher rates and costs.
Exclusive: Dan Romito Urges Methane Mitigation Game Plan
2024-04-08 - Dan Romito, the consulting partner at Pickering Energy Partners, says evading mitigation responsibility is "naive" as methane detection technology and regulation are focusing on oil and gas companies, in this Hart Energy Exclusive interview.