MercoPress. South Atlantic News Agency

Argentine Foreign ministry says BP not interested in developing Falklands’ oil

The British company controls 60% of Panamerican Energy one of the main corporations developing Argentina’s oil industry

British oil giant BP will not be involved in exploration or production activities in the Falkland Islands, according to the Argentine Foreign Affairs ministry which just a few days ago sent threatening letters to oil industry and financial corporations which could be working or assessing in the disputed South Atlantic waters.

Last month the government of President Cristina Fernandez announced it would begin legal actions against any company involved directly or indirectly in the Falklands hydrocarbons industry currently exploring for oil and gas in the region, which is under ‘disputed sovereignty’, warned Argentina.

According to the Foreign Affairs ministry BP sent a letter to the Argentine government stating that “it does not participate in hydrocarbons exploration activities in the region referred to in your (19 March 2012) notification, nor has it plans to do so in the future”

BP controls 60% of Panamerican Energy, one of the main oil corporations with activities in Argentina.

The Argentine/UK dispute over the Falklands sovereignty intensified in recent months since Falklands government licensed companies started two years ago exploratory drilling offshore the Islands with encouraging prospects, and ahead of the 30th anniversary of the start of the Malvinas war, when Argentine forces invaded the Islands on 2 April 1982.

The Argentine release ended saying that in coordination with other areas of the government will continue implementing all those actions that domestic and international legislation stipulate for the defence of renewable and non renewable resources “which are assets belonging to all Argentines”.