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.
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.
Suggested Stories
-
May 21st 2013
Falkland Islands: it’s a three-side debate; Argentina must recognize Islanders right to decide their future
-
May 23rd 2013
Falkland Islands wish for normal neighborly relations with all South American neighbors
-
May 22nd 2013
Falklands and other BOT should be given a seat in the Commons, says MEP Farage
-
May 20th 2013
Falkland Islands: Argentina blasts UK’s ‘double standard’ on self determination right
12 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
Why ?
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?
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.
In any case Falkland Oil has ABSOLUTELY nothing to do with Argentina.
How sad...
www.ushuaianoticias.com/noticias/leer/11317-un-crucero-violo-la-ley-de-gaucho-rivero.html
“'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”
keep pushing, your time will come.
history never lies.
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!!!!!
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.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!