Falklands’ commercial oil production projected to commence in 2017
By Alicia Dunkley-Willis (*) - With commercial oil production projected to commence in 2017 for the 3,000 population Falkland Islands, efforts are now underway to ensure that the impending wealth does not upset the order here.
According to government minister with portfolio responsibility for the sector, Dr Barry Elsby, the government of the Islands is well aware of both the dangers and the advantages which come with the discovery of oil at Sea Lion field, which is north of Falkland waters.
“It is expected that the first oil will be in a super tanker by 2017 and the Falkland Islands will then become an oil- exporting nation,” Dr Elsby said. At present, the majority of the Falklands revenues come from fish exports.
“Fishing despite all the efforts we put into maintaining viable fisheries, fishing is not entirely within our control... so our economy could fail, but the oil gives us much more security. But we also recognise that it carries downsides — mass immigration, huge amounts of money suddenly hitting a small community — so we are very much aware of that,” the Falklands’ official said.
“One of the big things we are looking at is the socio-economic effects of this oil find and how we are going to handle it, how we are going to maintain what is the good of the Falklands. This is a tremendously supportive community and what no one in the islands wants is to lose that sense of what is the Falkland Islands swamping us with mass immigration,” Dr Elsby told Caribbean journalists on a media tour to the islands during a visit to his offices in the capital Stanley.
The inflow of workers, he said, will “have to be controlled along the lines of what Falklanders want”.
In the meantime, he said despite arguments by feuding neighbour Argentina that the Falklands and the oil, by extension, belongs to it, Falklands “oil exploration has gone on successfully, despite their blockades, and there is no doubt the exploitation the development of the field, the producing of that oil will go equally well”.
Meanwhile, Dr Elsby said in order to protect the Islands' thriving plant and animal life which is an attraction by themselves the plan is for the oil operations to remain offshore. He said the added safeguard was scenario planning, which was a requirement from the particular oil outfits. The current oil field has an expected productive life of some 30 years, pumping billions into the economy.
''We must do this sensibly, we must do this with thought for the environment,” Dr Elsby said, adding that the government will be doing its own socioeconomic impact assessment separate and apart from those done by the oil companies.
The Falkland Islands has virtually no unemployment with official figures placing it at one per cent. Most Falkland Islanders have two jobs. One concern is that with the pending development there will be more labour than workers hence the government's thrust to review its current immigration policy.
(*) Ms Dunkley-Willis from the Jamaica Observer and other Caribbean journalists are currently touring the Falkland Islands
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Another interesting angle is that Singapore sovereign wealth funds have invested in Falklands exploration and ports in Uruguay and Brazil. And Mexico's offshore oil service industry for that matter. The dots are joining up nicely.
I am loving this!! the Falkland Island economy at full steam ahead!! long may it continue, and keep up the goosd work you guys!!
Nuff Respec!!!!
Meanwhile, in a bankrupt, disillusioned, directionless country about 400 miles away..............
www.youtube.com/watch?v=0iqwx9i704g
I'm sure things will be better managed in the FI, but immigration will still have an impact on the islanders culture. Take a look at what happened in Nauru below.
www.nytimes.com/1995/12/10/world/a-pacific-island-nation-is-stripped-of-everything.html?src=pm
The 3,000 retards living in such Malditas Islands not too much they can do...except to keep dreaming...that some day.....their population might reach...3,oo1 retards.....jeeeeeeeeeeeejeeeeeeeeeeejeeeeeeeeeeeeeeeee
Hurry up :-)))
Urinehopper down again 159.12 -6.00 (-3.62%)
en.mercopress.com/2012/10/04/argentina-will-have-to-post-10m-plus-bond-in-ghana-to-liberate-ara-libertad
Doing things properly takes time and professionalism. Setting up a production infrastructure is considerably more complicated than switching on stadium lights for example.
And don't worry about rockhoppers price, I've hedged my position. What you need to understand is that not everyone operates in an emotion based hysteria, where there is only one way of seeing things.
Thanks for the link, best laugh I have had for ages, been watching the TV News, you cheered me up no end.
Oh!...my.....the islands don't have enough people....or a decent 5 stars hotel, no community college or indoor swimming pool/jacuzzi/ no shopping mall, not even an apartment building like the Arbour Park @US$650.00 p/month rent,.....
and this Conqueror/Captain Poppy the biggest UK WIMP.... keeps dreaming.....and given the folkloosers “hopes” some day the 3,000 retards will make it .....Oh, my......what a british ARSE!
How can anyone live without a jacuzzi, shopping malls, 5 star hotels, indoor swimming pools etc. I would imagine the best part of Argentina manages !
Anyway, when the oil revenues start flowing, I am sure they will make good use of it to build what they deem necessary
By the way $650.00 a month sounds rather cheap for rented accommodation - must be bottom end of the market.
The rents in Manhattan for a class apartment must be more than this.
Who in their right mind would want to stay in an apartment if they can have a detached house in its own grounds.
As to shopping malls, what is the big deal about them .
I take it then that every town in Argentina has a shopping mall - or does it !
By the way, an arse is a useful thing to have - what use are you?
Very good idea. The USAF here financed an RAF Regiment Rapier Sqn to defend their airfields, 66SQN. Paid for the kit and maintenance, our guys operated it, mutual support. Your suggestion about a Typhoon Sqn, would be very similiar, manned by our guys and any Falklander with the right abilities, could rotate between the air defence of the UK and the Falkland Islands. Half the squadron there half here, 3 month rotations, something like that. It would give the Islanders the feeling that they are defending themselfs a pride in knowing that they are theirs. Do not get me wrong, I am not saying for a millisecond that we should not defend them, they are our families, our relatives, our people and we protect them with every means at our disposal and we do it willingly. Your suggestion about an Airliner, why not? Lease one, two or more from a recognised carrier, operate them from Mount Pleasant.
Anyhing is possible once the oilfields are developed. Falklanders using their financial bounty for themselfs.
Sounds like a plan. Except you'd better clear it with Dove and Think first. Dove doesn't like Falkland Islanders coming up with ideas of their own and he needs Think to hold his hand. Haven't you noticed that each one is like the other one's shadow?
At $100 a barrel, that's a gross income of $50billion. Costs will be roughly $10billion for the life of the field...so a gross profit of $40billion of which 36% is payable in tax/duty.
So, that's $14bn over the next 20 years, or $700m a year tax revenue, every year for the next 20 years.
There are 3000 islanders. So tax revenue per capita of $230,000!! Just from Sealion...every year for two decades.
Fantastic news:
So, the shopping list:
1) pay for own defence
2) open up logistic channels to supply islands at ideal frequency
3) ensure that islander health/education/welfare systems are first class
4) ensure FI veterans/families are well supported
5) set up a national investment fund
Watch whilst further oil/gas/condensate discoveries come on line...celebrate.
Every little helps!
Sticks and stones,
Envy and jealous,
Still,
As long as the tongue wiggles, words will appear..
MacRobert's Reply was the name given to a famous World War II, Royal Air Force aircraft, a Short Stirling bomber, serial N6086 operated by No. 15 Squadron. The aircraft was paid for by a generous £25,000 donation from Lady Rachel Workman MacRobert, and was named 'MacRobert's Reply' in commemoration of her three sons, all of whom were killed whilst serving with the RAF. The eldest son Alasdair died in a flying accident in 1938, whilst Roderic and Iain were both killed in action during 1941. A second Short Stirling, serial W7531, was also named 'MacRobert's Reply' after the first aircraft N6086 was written off in an accident.
A RAF Tornado bears the same name today.
Perhaps An RAF Typhoon might one day“ bear the name, ”The Falklanders reply.”
Conqureo?MMagic etc - it has long been accepted here by Islanders that one of the early things will be to pay for our current defence costs - then depending on the funds - to start working back and repaying and yes the names HMS Darwin and HMS Douglas Station have been mentioned.
BUT no income until late 2017 at the earliest and then it will be small amounts at the start so please cool down all - 5 years to go yet!
Nobody here is too excited or shopping yet.
Wish me luck as you wave me goodbye
Cheerio, here I go, on my way
Wish me luck as you wave me goodbye.
Now that would be something!
......and then you woke up and realised it had all been a marvellous dream.
Those are the Hard Facts of truth - suggest you call the Committee Chairman and ask for verification if you do not believe it.
The Islands are NOT members - so of course they could not speak in the debates- they knew it anyway- it,s the rules of most organisations!! BUt they were ablew to- and did - talk to other delegates at “fringe” meetings, parties etc etc.
The 2 delegates there got their normal working daily remuneration and their accomodation and flights costs, and zero more.Same as most others there - well maybe one Country has to bribe its people to go do they?
Intersting visit here at the moment of a group of press from the Caribbean - seems The Islands- Belize- Guyana all have a similar problem - a nasty big neighbour who claim their territory and do what they can to make life difficult for the small country!
FALSE - They tried to pass as a country and were stopped in their tracks. This would a set a presedent that would have compromised Argentinas legitimate claim. They were put in their place as observers by quick Unsur diplomacy.
Fuck it, they were there, and personaly, I think that realy pissed you and your like off. Shame!!!!
What a load of old tosh! It was in the paper the week before; councillors attending a meeting as observers.
As for 'diplomacy'.........you have diplomats do you? There's more to diplomacy than turning up at the world tiddlywinks championship and yelling about the 'Malvinas'.
I doubt there will be any tax revenue until 2020 as capital expenditure will be repaid before tax is due on profits...but 8 years is no time at all, and in the mean time further discoveries will be made in the north and south.
Prudence is all very well, but the scale of the discovery and potential, should be (and I am sure it is) , driving intelligent and realistic debate about what should happen in that time.
I am really pleased for you guys...roll on 2020!,
Cuba who is on the group committee even eventually agreed that our prescence as Observers was legitimate!
This is a bit like the fantasy claim of civilian settlers thrown out in 1833! All verbal trash totally at odds with the written record facts!
Whilst on the subject of international meetings, at the recent APSA meeting in Peru, CFK demanded that the final document should contain support for Argentina's claim to the Falkland Islands etc., but unfortunately the rest of the attendees refused. She returned to Argentina without attending the final meeting, supposedly because of the security forces' manifestation!!!!!
So I suppose you are going to call Simon68 a liar now?
www.elobservador.com.uy/noticia/234208/cumbre-de-defensa-sin-acuerdo-por-rol-de-ejercitos-en-el-exterior/
This must hurt CFK as she had no luck in Peru at the ASPA meeting, no luck at the OAS meeting, not much luck at the UN, in fact not much interest from all her SA “friends”!!!!!!!
“Según supo El Observador, la situación del Atlántico sur como zona de paz es uno de los puntos sobre los que no hay acuerdo. EEUU vetó ese artículo de la declaración final que previó respaldar el reclamo de soberanía de Argentina sobre las Malvinas.”
The only motion CFK will pass,
Will go straight down the toilet..
.
Chaps,
I don't question that the report says veto. I question whether the report is correct in describing it as a veto rather than a failure to gain the consensus required by the rules of the organisation. Anyway, the end result is the same.
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