Thursday, March 17th 2016 - 06:01 UTC

Falklands' oil industry making steady advance 'with positive signs from Argentina', says GlobalData

Falkland Islands' oil and gas industry is making steady advancement in spite of global concerns about falling prices, according to new analysis by GlobalData. With positive signs coming from the neighboring Argentina, which recently witnessed a change in government, the Falklands is preparing to commercialize production of its first oil project, Premier Oil's Sea Lion.

The report entitled 'Falkland Islands Steadily Advances Towards First Oil', links the future of the industry with Argentina's new attitude

GlobalData says the new Argentine government is keen on several market-friendly reforms: re-accessing financial markets and attracting foreign investment.

The Falklands oil industry faced several challenges under the previous Argentine administration of ex president Cristina Fernandez.

 Under the report entitled 'Falkland Islands Steadily Advances Towards First Oil', the new Argentine Government led by Mauricio Macri is keen on introducing several market-friendly reforms such as cutting regulations, re-accessing international financial markets and encouraging foreign direct investment.

The Falklands oil industry faced several challenges under the previous Argentine administration, which included restricting international oil companies operating in the territory from participating in Argentina.

GlobalData foresees favorable conditions for oil industry in the region, as the special agency created by Cristina Fernandez in 2013 to handle related Falkland Islands affairs is expected to be closed under the new administration.

GlobalData Energy Americas senior upstream analyst Adrian Lara said: “For the Argentine government, a formal change in the discourse about Falkland Islands represents a good opportunity in sending a clear signal that they are serious at changing their international strategy.

”Argentina's oil and gas sector is actually doing pretty well in the current low price environment mainly helped by government controlled prices, however, more strategic incentives could be offered to oil and gas companies and that could lead to more investment into existing unexplored formations in onshore and offshore Argentina”.

GlobalData describes itself as a world leading provider of data and analysis for consumer, technology and healthcare businesses. Headquartered in London, GlobalData today has offices in 17 countries, more than 1,800 research analysts and consultants, and access to hundreds of thousands of industry experts, opinion leaders and consumers in various communities and panels around the world. Customers range from multi-national companies, governments and major institutions to smaller businesses and technical professionals in more than 180 countries.

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1 copland (#) Mar 17th, 2016 - 08:35 am Report abuse
If Argentina had any sense, they would see the Falklands oil as a convenient source to obtain supplies and should work towards an agreement with the Falklands to sell their oil to them that would benefit both parties. A win/win situation both financially and politically.
2 Viscount Falkland (#) Mar 17th, 2016 - 12:16 pm Report abuse
If Argentina had any sense
3 copland (#) Mar 17th, 2016 - 12:30 pm Report abuse
Yes, that is the problem!
4 Islander1 (#) Mar 17th, 2016 - 01:00 pm Report abuse
A bit if a fantasy story written by people who have little clue! Arg has not hindered oil exploration around the Islands- nor any way they can hinder exploitation if and when it goes ahead.
That decision simply depends on oil price and company profile of extraction and cash budget for development costs - and that decision will be taken when time is right , independent of Argentina.
Yes better for Argentina,s own economy if they co-operate I agree, but not essential to the business nor for the Falklands.
5 SebaSvtz (#) Mar 17th, 2016 - 01:36 pm Report abuse
I can´t help feeling sick every time I see CFK´s pic.
6 zathras (#) Mar 17th, 2016 - 01:45 pm Report abuse
Can anyone say what has happened to CFK?

It's like she has disappeared from the face of the Earth.

But since being democratically kicked out we have heard nothing from her.
7 Yo (#) Mar 17th, 2016 - 06:57 pm Report abuse
If we had any sense we won´t buy the oil that is our and you are stealing.

I don´t think that macri will change so much the relations with UK about Malvinas. The people does not want it.
8 LEPRecon (#) Mar 17th, 2016 - 07:03 pm Report abuse
@7 Yo

No the oil belongs to the people of the Falkland Islands. People who can trace their ancestors on the Islands back to before Argentina existed as a country.

The oil, or rather the revenue from the oil, is theirs to do with as they please. And unlike Argentina, the Falkland Islands Government will use the money to benefit ALL the people in the Falklands and not use it to line their own pockets.

There is no such place as malvinas. This is a mythical place made up by the Argentine government, who have indoctrinated you in order to distract you so they can continue to rape Argentina of its wealth and natural resources, and keep people like you poor.

Even the documents in Argentina's national archive don't support Argentina's spurious claims to the Falklands.

But keep dreaming about the mythical malvinas. This dream won't feed your family, buy you medicine or keep you warm, but at least it'll keep you deluded enough so your politicians can rape Argentina and screw you some more.
9 ChrisR (#) Mar 17th, 2016 - 08:02 pm Report abuse
GlbalData ought to be renamed more accurately as GlobalDickheads if the articles we see regularly on MP are anything to go by.

I cannot remember ONE report of theirs lacking major errors of fact or cock-ups of another nature.
10 gordo1 (#) Mar 17th, 2016 - 08:49 pm Report abuse
Yo - you must have a word with SebaSvtz!

I am sure he will be able to change your perspective.
11 Think (#) Mar 17th, 2016 - 08:59 pm Report abuse
(r4) Islander1

You say...:
”A bit of a fantasy story written by people who have little clue!

I say...:
Couldn't agree more with you about that first phrase...
The rest...? You have little clue...!
12 Skip (#) Mar 17th, 2016 - 10:19 pm Report abuse
As little clue as the Falkland Islands STILL British in 2016?

When will Argentina finally claim these islands as their own? Nearly 200 years now.... I've heard of being lazy but get your arses into gear already.

No matter. There oil. It will be extracted either sooner or later.

Argentina won't but it. So what! Others will.
13 Islander1 (#) Mar 17th, 2016 - 11:32 pm Report abuse
Think- Hey - we agree on something anyway!
As for the rest - well one day one of us will be right and the other wrong - my guess is we wont know who until oil gets up about $50 a barrel at least!

Until then guess we can just agree to differ?
14 MagnusMaster (#) Mar 18th, 2016 - 01:58 am Report abuse
@8 Don't you ever get tired of the old Malvinas distraction conspiracy?
15 Think (#) Mar 18th, 2016 - 01:46 pm Report abuse
(13) Islander1
“Until oil gets up about $50 a barrel at least”..., you say ???
$50 ???

You indomitable optimist !!!
What did you do with ALL them indomitable optimistic Engrish calculatiions that, from the very beginning and until now, have defined the break-even price to be about $85 ???
16 LEPRecon (#) Mar 18th, 2016 - 09:32 pm Report abuse
@14 MagnusMaster

What conspiracy?

There isn't a conspiracy it's just the way Argentina works, and you KNOW that's the way your government works, yet you just go along with it.

You've said it yourself, you DON'T care that Argentina's claims to the Falklands are lies because to admit it would (in your words) make Argentina appear 'weak and liars'.

If you actually had PROOF of Argentina's claims then you would've taken it to the ICJ years ago. But you haven't.

I've seen the propaganda that Argentina indoctrinates their school children with. It's not history, not even close (no matter how you try to disguise it), it's lies and blatant nationalist propaganda that doesn't even come close to the truth.

And you have to admit that the government has done a good job, haven't they? Because even though YOU know that Argentina's claims to the Falklands are made up lies you still CAN'T bring yourself to admit it. They've taught you that to disagree with the government line on this is treason, and people who give dissenting views in Argentina are vilified by the government and in the media.

Stuff like that doesn't happen in true democracies. People are allowed to have their own opinion.

And even 5 minutes actual real research could show even the most sceptical person the truth about the Falklands, and that truth isn't anything close to the nonsense that the Argentine government peddles.
17 MagnusMaster (#) Mar 18th, 2016 - 11:27 pm Report abuse
@16 “And you have to admit that the government has done a good job, haven't they? Because even though YOU know that Argentina's claims to the Falklands are made up lies you still CAN'T bring yourself to admit it. They've taught you that to disagree with the government line on this is treason, and people who give dissenting views in Argentina are vilified by the government and in the media.
Stuff like that doesn't happen in true democracies. People are allowed to have their own opinion.”

Our democracy is very flawed, but our government hasn't ever persecuted or sent to jail everyone who disagrees on Malvinas, and never even said that people who disagree on Malvinas with the government are traitors. It's the people who villify those who are against our claim to Malvinas.

“And even 5 minutes actual real research could show even the most sceptical person the truth about the Falklands, and that truth isn't anything close to the nonsense that the Argentine government peddles”

I wonder, how didn't historians in Argentina do that? I'm pretty sure the government didn't stop anyone from going to our national archives...
18 Think (#) Mar 19th, 2016 - 08:16 am Report abuse
(17) Magnus Master

Because of your manifest interest in the Malvinas issue, You probably have interacted with one of those vociferous Argentineans that believe we sank the Invincible, killed 20,000 British troops and that Perfid Albion is the root of all our problems...
I reckon they are about 5-10,000 of those kind od people in Argentina...
Those are the kind of people I call ...: ARGIE TURNIPS...

You are now interacting with one of them Engrish that believes we Argies are a Nation of slavish blind obedient Automatons led by a Farenheit 451 system...
I reckon they are about 5-10,000 of those kind of people in the UK*.
*(Many of them avid readers of MacriPress:-)
Those are the kind of people I call ...: ANGLO TURNIPS...
19 FRodriguez (#) Mar 19th, 2016 - 04:27 pm Report abuse
Here you have the juridical and historical true facts about Malvinas/Falkland : www.eudeba.com.ar/9789502325286/Las+Malvinas+entre+el+derecho+y+la+historia/

You probably has seen the adv in your newspaper (Penguin News) last week ;-)
Regards from Continental Argentina
20 Think (#) Mar 19th, 2016 - 04:49 pm Report abuse
(19) Sr. Rodriguez

I want to use this opportunity to kindly ask Editorial Eudeba, Mr. Marcelo Kohen and yourself...to try your utmost to make this excellent work available to the Public Domain...

Twelve U$D is a lot of money for those stingy British Kelpers...
They ain't half Scottish for nothin'... you know...

Thanks anyway for your excellent work...
Su seguro servidor...
El Think, Chubut, Argentina
21 Skip (#) Mar 20th, 2016 - 06:12 am Report abuse
Wow I wonder what the ending is like...... oh that's right, it's 2016 and the Islands are still British.

Well that was a waste of US$12!
22 The Voice (#) Mar 20th, 2016 - 02:28 pm Report abuse
Think, $12? It won't make a haporth of difference to the Falklands situation so we won't be wasting our money.

Meanwhile the oil is still there and there is nothing whatsoever that you Malvinista Turnips can do to steal it. Life is just a continuing series of disappointments for you guys. Tough shit… :-)

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