Argentina to sue British oil firms exploring in the Falklands
June 18, 2012 at 10:10 am
Exploration for oil by British firms has been declared illegal by the Argentinian government. As a result, Argentina has begun the process of suing five oil companies which are active in the region.
The companies in question are Falkland Oil and Gas, Desire Petroleum, Argos Resources, Borders and Southern Petroleum, and Rockhopper Exploration.
However, Britain has been quick to respond to the news, and has reiterated its support to the islanders, saying that they have the right to develop their natural resources as they see fit. It also complained that it is the Argentinian government which is acting illegally by intimidating and harassing the islanders.
It has been 30 years since the end of the Falklands War, but tensions are still high over the region. The news last year that a number of companies would begin to explore the region for oil, and the 30th anniversary of the war this year, have only increased tensions further.
The Falkland Islands, known as ‘Las Malvinas’ in Argentina, have been under British rule since 1833. However, the Argentinians have always claimed the territory as their own, saying that it was given to them by the Spanish. The president of Argentina, Cristina Kirchner, has called the oil exploration “clandestine” and “illegal”.
It is thought that the oil reserves around the islands could be worth in the region of tens of millions of dollars. However, only one company, Rockhopper Exploration, has confirmed the find of large reserves so far, and development is to start in the area later this year.
