United Kingdom Authorized Oil Exploitation in the Malvinas Islands
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Channel C United Kingdom authorized oil exploitation in the Malvinas Islands The British Chancellor endorsed the work in the Sea Lion field, operated by firms from Israel and Great Britain. The project plans to extract up to 180,000 barrels per day in spite of Argentina's rejection and submissions to international courts. The publication United Kingdom authorized oil exploitation in the Malvinas Islands appeared for the first time in Canal C
The announcement follows Argentina's claim before the International Tribunal for the Law of the Sea.
The British Foreign Secretary enabled Sea Lion’s oil exploitation in the Islands. Shortly before that, the Government had formalized a request to prevent such activity before the International Tribunal for the Law of the Sea.
The United Kingdom's Foreign Secretary would approve the progress of the project that could extract up to 1.7 billion barrels of oil from the islands. Read more
The decision enables the development of the deposit, the first drilling of which is planned for the beginning of 2027.
The confirmation was broadcast by Navitas, the Israeli company that leads the project along with British Rockhopper.
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