Monday, December 3rd 2012 - 05:02 UTC

Falklands’ mission to learn from the oil experiences of Norway and Shetlands

Senior members from the Falkland Islands government have left for Norway and the Shetland Islands on an experiences-fact-finding mission as the Islands prepare for oil production in the near future.

Chief Executive Keith Padgett head of the administration’s group (Photo: The Report Co.)

The delegation is made up of Chief Executive Keith Padgett, Financial Secretary Nicola Granger, Director of Central Services Simon Fletcher, Director of Minerals Stephen Luxton and Head of Policy Jamie Fotheringham plus lawmakers Dick Sawle and Barry Elsby.

The report from the latest Executive Council said that a strategy was agreed which would place oil related income into a separately identified fund within the Falklands’ consolidated fund.

It was felt important to treat these revenues in this way in order to preserve the integrity of the Medium Term Financial Plan “which does not take into account these one-off revenues as they are not recurring revenue items”.

MLA Dr. Barry Elsby, with portfolio responsibility for the oil sector has said that “it is expected that the first oil from the Falklands will be in a super tanker by 2017” and that the government is well aware of both the dangers and advantages which come with the discovery of oil.

Norway and its Petroleum fund where the oil surplus from its huge hydrocarbons resources in the North Sea are deposited is seen world-side as an example of efficient management of reserves for the future as production of the non renewable resource peaks and phases out in coming decades.

During the absence of Mr Padgett, the Director of Natural Resources John Barton will be Acting Chief Executive. Mr Padgett says that he does not foresee any particular problems with several senior FIG officials being absent from the Islands at the same time.

The Chief Executive says that they will be contactable by phone and email and he is confident that John Barton and the rest of the Corporate Management Team will be able to handle any issues that arise.


12 comments Feed

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1 TipsyThink (#) Dec 03rd, 2012 - 09:33 am Report abuse
My thoúght is that Mexico bay expérience is more pertínent to learn sométhings ráther than Norway.
2 Anbar (#) Dec 03rd, 2012 - 10:29 am Report abuse
cant say as i know enough to comment...
3 agent999 (#) Dec 03rd, 2012 - 10:43 am Report abuse
Why ?
4 M_of_FI (#) Dec 03rd, 2012 - 11:05 am Report abuse
I assume that you are referring to the BP/Gulf Mexico oil spill. If you are, what does this have to do with the Falklands?
5 JimLad (#) Dec 03rd, 2012 - 12:37 pm Report abuse
@ M_of_FI #4

It has nothing to do with the Falklands, except that the Malvinista's will make insulting innuendos that any oil extraction around the Falklands will be doomed to repeat the Gulf of Mexico incident, because all British oil companies are incompetent like that, according to them.
6 Brit Bob (#) Dec 03rd, 2012 - 03:35 pm Report abuse

In any case Falkland Oil has ABSOLUTELY nothing to do with Argentina.

How sad...
7 Conqueror (#) Dec 03rd, 2012 - 05:45 pm Report abuse
@6 I'm sorry, I disagree. I think it very important that argies are able to stand on their beaches to watch Falklands oil being shipped off to places where it will pay the Islanders billions of dollars. The argie government should take the remaining time available to it to galvanise its construction industry and build very tall observation galleries. After all, a person 6 foot in height will have a horizon only 3 miles away. Galleries will need to be at least 100 feet in height in order to have a chance of seeing the tankers passing by outside territorial waters. Escorted by warships to avoid “interference”.
8 Steve-32-uk (#) Dec 03rd, 2012 - 05:49 pm Report abuse
'A cruise violated the law of Gaucho Rivero'
“'will ask and supportive sister republics of Chile and Uruguay to refuse permission for these pirates port if they try to continue their provocation doing Malvinas route from Montevideo or Punta Arenas”
9 briton (#) Dec 03rd, 2012 - 07:27 pm Report abuse
CFK will keep pushing untill someone stops her.

keep pushing, your time will come.
history never lies.
10 reality check (#) Dec 04th, 2012 - 12:25 pm Report abuse
Yes, all you hard working people of Montvideo and Puento Arenas, please sacrifice your livlihoods for their sacred cause! selfish arseholes!
11 Simon68 (#) Dec 04th, 2012 - 02:33 pm Report abuse
8 Steve-32-uk (#)
Dec 03rd, 2012 - 05:49 pm

Interesting article, what is even more interesting is the fact that Seabourn Sojourn is at this moment in the port of Montevideo, being attended by our very good friends the Urugyans!!!!!

This is another proof that CFK's shouting about South American solidarity really means that South Americans, except for the Argentine government, know on which side their bread is buttered!!!!!
12 reality check (#) Dec 04th, 2012 - 02:50 pm Report abuse
If they keep this up, the only people who are going to suffer will be those Argentine people who depend on the tourist trade to make a part of if not all of their living. It does not make sense, no one in real terms will suffer, except those people.

Certainly, no cruise operator is going to risk their staff, or in the extreme case, paying passengers.

There is also the more sensible question, why would anyone pay, for some people what is a lot of money, to visit a place where they are clearly not welcome?

I'll say it again, the only people to loose out from this, will be Argentinian. I would suspect the operators are already looking around for alternate venues to visit.

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