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Falkland Islands as oil-producing country: boon or blight?

Friday, May 3rd 2013 - 03:29 UTC
Full article 39 comments

For some, the prospect of the Falkland Islands becoming an oil-producing country creates exciting visions of opportunity, while for others it seems like a nightmare. What is certain is that oil, like sheep and fishing before it, will inevitably bring changes to both our wealth and our way of life. Read full article


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  • Marcos Alejandro

    “hopefully leading to the extraction of the first oil from the Sea Lion Field in 2017”

    2017 is now hopefully?
    Meeting video

    May 03rd, 2013 - 03:57 am - Link - Report abuse 0
  • LEPRecon

    @1 Marcos

    Jealous much?

    Nothing in the oi business is certain, anyone with half a brain knows that.

    It just kills you to know that one day the Falklands Islands will become rich and prosperous, doesn't it?

    Never mind you can continue to support Argentina a failing 'never was' country mired in its own 'fictional' past.

    A country that has huge natural resources that should make it ne of the richest countries on the planet, but is run by a bunch of selfish gangsters who spend all their time in office stuffing their own bank accounts with US dollars, whilst diverting the gullible masses with the fictional past.

    The problem is that one day the masses will stop being so gullible and will rise up and remove the gangsters.

    May 03rd, 2013 - 06:39 am - Link - Report abuse 0
  • Escoses Doido

    It's going to happen, and argentina will eventually turn up on the FIG's doorstep 'cap in hand' asking forgivness, and if there's any chance of the FIG putting some buisness their way.

    Wait and see.

    May 03rd, 2013 - 06:42 am - Link - Report abuse 0
  • DanyBerger

    ”FIG annual average estimated income over this thirty-year period is estimated at a healthy £150 million at £100 per barrel (£110 million at £80 pounds per barrel).”

    ha ha ha A supermarket in Argie land will make more revenues than that.

    Are these people living in planet earth?

    May 03rd, 2013 - 07:33 am - Link - Report abuse 0
  • Clyde15

    ha ha ha A supermarket in Argie land will make more revenues than that.
    Of course you are talking of Argentinian pesos, or will you be using the Basutoland mung bean for your currency by then.

    May 03rd, 2013 - 10:59 am - Link - Report abuse 0
  • M_of_FI

    @4 Dany

    Yes, in the grand scale of things, £150m is not a great deal of money. But for 3,000 people, that is a huge sum.

    £150m (Oil) + £35m (standard FIG revenues) = £185m

    £185m / 3,000 (FI people) = £61,000 per capita - That is a lot of wealth to spread around! Lucky Falkland Islanders!

    On a similar point, Argies please notice who commissioned the report and who will benefit from the oil and gas windfall... hint...the Falkland Islands. Not 'England' as you people say.

    May 03rd, 2013 - 11:24 am - Link - Report abuse 0
  • Faz

    DanyBerger there is a difference between turnover of a supermarket which probably makes about 3 percent profit and £150 million every year shared out between 3000 people.

    You are really stupid... We call you a dolt!

    May 03rd, 2013 - 11:27 am - Link - Report abuse 0
  • Steuart

    Use the money wisely and generations to come will thank you

    May 03rd, 2013 - 11:34 am - Link - Report abuse 0
  • DanyBerger

    Oh! boys that is a miserable amount of money.

    As I said before a supermarket in great Buenos Aires make more money that the entire FI.

    They get average 10.000 client per day. can you see how insignificant you are?

    Now please rise some money to buy a pair of socks for Dick because the last time was really an embarrassment when visit Willy Hague.

    May 03rd, 2013 - 01:08 pm - Link - Report abuse 0
  • Benson

    Danny really has no concept of per capita does he.

    May 03rd, 2013 - 01:24 pm - Link - Report abuse 0
  • andy65

    @DanyBerger Instead of talking stupid go and think how you can make the life and living standards of the millions of Argentines that have to live on less than $7 a day over 10 million people better

    May 03rd, 2013 - 01:31 pm - Link - Report abuse 0
  • Anglotino


    Dany believes Kenya, Peru and Argentina have lower rates of poverty than Australia.

    Says it all really!

    May 03rd, 2013 - 01:33 pm - Link - Report abuse 0
  • M_of_FI

    You are an endearing person, aren't you Dany? Well, that insignificant amount of money will transform the Falklands with its tiny population. If £25m per annum from Fisheries provided the Falklands with free health and education up to university level (and many other benefits), can you imagine what a £150m per annum would do for us?

    While Argentina struggles with inflation, exchange rates, militant unions, media controled by the government, large national debt, an increasing autocratic leadership and mass corruption, the Falklands has secured its economic future for 25+ years.

    While you boast about Argentine supermarkets and the revenue they generate, I would much rather be in the Falklands, than the economic mess that Argentina continues to plunge itself in.

    I look forward to more of your inane comments.

    May 03rd, 2013 - 01:39 pm - Link - Report abuse 0
  • Conqueror

    @13 DB is “selective”. Read the article. It says “Falklands GDP, which is at present around £140 million would have leaped to just over £1 billion”. That's not £150 million, it's an increase of approximately £860 million. But DB isn't allowed to read that bit! Are argie supermarkets making much money with the government-imposed price freeze? What happens when the price freeze ends? The supermarkets set out to recover the money they lost. So inflation will jump and argies will starve. It's all fun in argieland. As you move into winter, argies will be turning to salads.

    May 03rd, 2013 - 02:01 pm - Link - Report abuse 0
  • Think

    Article says….:

    ”According to scenario 1, if crude oil were to be worth $100 a barrel in 2018, the Falklands GDP, which is at present around £140 million would have leaped to just over £1 billion and would not return to current levels till around 2045.

    I say….:
    Regeneris and Mr Nichol’s *U$S100* a barrel ”Scenario 1” is set to start working in the Lords Year of 2018….......until 2045......

    That is 5 (five) years from now…………and for almost 30 years in the future.

    I wonder if Regeneris and Mr Nichol’s ”Scenario 1” included a bit of history about oil prices for the English Kelpers……

    Any English / Kelper in here knows what the median world oil price has been in the last 40 years (1970 – 2011) ????

    U$S 100.00 per barrel???.................... Nope….
    U$S 80.00 per barrel??..................... No, try again…..
    U$S 32.50 per barrel?..... Juppppp, thats right…..: U$S 32.50 per barrel.

    ”Prices in the mid $30s seem exceptionally low by today's standards. However, when the current President of the United States took office the price was $35.00 per barrel. By the end of 2009 prices had doubled bringing the average for 2009 to $56.35 or $57.00 in 2010$.”

    Brainwash anybody?

    May 03rd, 2013 - 03:10 pm - Link - Report abuse 0
  • Clyde15

    If they had to eat seaweed then I am sure they would rather do that than have anything to do with Argentina.

    Nobody has a clue as to what the oil market will be in 5 years time. Their scenario is equally valid to yours.

    I understand that your job is to throw the worst possible light on any news about the Falklands which you consistently do.
    However, that does not make it true.

    May 03rd, 2013 - 04:10 pm - Link - Report abuse 0
  • Think

    (16) Clyde15

    You say...:
    “Nobody has a clue as to what the oil market will be in 5 years time. Their scenario is equally valid to yours.”

    I say...:
    Nobody has a clue as to what the oil market will be in 5 years time, that's correct.....

    But their “Scenario” is not at all equally valid to mine......

    Firstly, because I haven't presented any “Scenario” just true, verifiable facts about oil price variations.......

    Secondly, because I don't posess the necessary English Chuzpah to sell a “Scenario” assuming stable oil prices for the next 35 years to them squatting Kelpers.......

    May 03rd, 2013 - 05:03 pm - Link - Report abuse 0
  • Clyde15

    #17 Not worth a reply.

    May 03rd, 2013 - 06:30 pm - Link - Report abuse 0
  • Think


    Meanwhile, in the City of London……………… the shares of Rockflopper Exploitation fall to their lowest level since the “Sealion Discovery” in May 2010…………..

    Brainwash anybody?

    May 03rd, 2013 - 06:41 pm - Link - Report abuse 0
  • slattzzz

    @19 stink................. jealous anyone?

    May 03rd, 2013 - 08:43 pm - Link - Report abuse 0
  • Islander1

    Think- are you in ther same brainshortage as marcos? - I thought better of you. RKH are no Longer key Players - Premier Oil are.
    Quite normal to me for companies - during periods of inaction - like RKH - to have a depressed share value.
    Maybe wait and see what starts to happen late 2014 when drilling etc restarts in thier areas.

    May 03rd, 2013 - 09:06 pm - Link - Report abuse 0
  • José Malvinero

    “A country,” says the writer. jaaaaaaaaaaaaaaa!!!!!

    May 03rd, 2013 - 09:08 pm - Link - Report abuse 0
  • Anglotino

    Did Think just attempt to downplay the price of oili n the future by quoting a median price based on the past 43 years?

    An median oil price that included 1970...... back when the world had only 3.7 billion people and China's GDP was comparable to Italy?

    Income might be lower than estimates, but it will still be income.
    Income the islands don't have now.

    Estimates are estimates. So the price of oil extracted from FI might be an estimate, but it is a guarantee that Argentina won't be earning the royalties.

    May 03rd, 2013 - 09:21 pm - Link - Report abuse 0
  • malen

    If he is asking, it is a blight

    May 03rd, 2013 - 11:20 pm - Link - Report abuse 0
  • reality check

    If it is, it's a blight that YPF would dearly love to catch!

    May 04th, 2013 - 06:11 am - Link - Report abuse 0
  • DanyBerger

    So taking a more real scenario based on statistics from the past FI will not have even a GDP of 300m.

    Lest say 3 Arg supermarkets, ha ha

    May 04th, 2013 - 07:55 am - Link - Report abuse 0
  • Monkeymagic


    Yes, Think really did try and use the median price since 1970. What a dumbass.

    But there again, it's typical Argie economics. Think calculates the cost to buy food and fuel for his home based on median price since 1970, and then spends the rest of his cash..then he realises that he's run out of money as it was a ridiculous analysis given rabid inflation and grossly changed macroeconomics.

    Think now has a massive shortfall so he borrows from a third party (but doesn't change his analysis). The next month he has another shortfall and can't make his loan repayment, so he claims he was “tricked” into the loan and the fuel and food costs are because of the “boogie man”. he then refuses to pay his loan.

    By the third month, he's lost his job, can't afford the fuel or food irrespective of the median price, can't afford the loan or the default on the loan, so then makes up a fictitious claim on his neighbours house and sets fire to their front lawn.

    What a loon...but typical Argie.

    May 04th, 2013 - 08:41 am - Link - Report abuse 0
  • Think

    (26) DanyBerger

    You say….:
    So taking a more real scenario based on statistics from the past FI will not have even a GDP of 300m.

    I say:
    Not quite so, Mr. Berger…….
    Based on a more realistic scenario, taking into account statistics from the past and the cyclical nature of oil prices; the English Pirates Oil Adventure in the South Atlantic has a very good chance of being a “No Starter”……
    Leaving them Islands with their current GDP of ~£140 million …..
    That will be the moment when Argentina will tighten its grip on the tourist and fishing industries that provide nearly 70% of the above mentioned GNP….

    May 04th, 2013 - 11:34 am - Link - Report abuse 0
  • surfer

    Argentina is out of this game, they blew it, a paper Tiger now, bunch of failed pirates with empty threats.

    Work already started on infrastructure in the Falkland Islands, Premier working on FPSO options, all good for 2017.

    Well Argentina with inflation at 30% and increasing, peso at 10cents and decreasing, YPF importing more than ever, pissing off Brazil and Uruguay pulling investments out, etc, etc... What will THEY be looking like in 2017?

    May 04th, 2013 - 12:02 pm - Link - Report abuse 0
  • Pete Bog

    “supermarket in Argie land will make more revenues than that.”


    May 04th, 2013 - 11:13 pm - Link - Report abuse 0
  • DanyBerger

    @Pete Bog

    Yeah really “Pete” supermarkets sector total revenue in 2011 was USD 22bn in Argentina.
    And they invested annually in between 300 to 500m USD.

    Carrefour $17bn revenue in 2011
    Coto $11.7bn revenue in 2011

    May 05th, 2013 - 09:08 am - Link - Report abuse 0
  • Think


    Seems to be, that quoting the “Median Oil Price” of the last forty years is too much for some of our posters…..
    Apparently, the Young Ones can’t “Think” so far back in time as the Vietnam War…..

    Let’s take the average Oil Price for the last twenty years then....., shall we?
    1992: $19.25
    1993: $16.74
    1994: $15.66
    1995: $16.75
    1996: $20.46
    1997: $18.97
    1998: $11.91
    1999: $16.55
    2000: $27.40
    2001: $23.00
    2002: $22.81
    2003: $27.69
    2004: $37.41
    2005: $50.04
    2006: $58.30
    2007: $64.20
    2008: $91.48
    2009: $53.56
    2010: $71.21
    2011: $87.04
    2012: $84.46
    Average oil price 1993-2012 = $37,98
    Juppppp.. NOT $100.00.. NOT $80.00….........… Just $37,98-

    And we are, as the Yanks so elegantly put it, in the midst of the Freaking Fracking Oil Revolution…..
    One Billion GNP in Malvinas on 2018…., my left foot…..
    Brainwash anybody?

    May 05th, 2013 - 09:17 am - Link - Report abuse 0
  • lsolde

    Whatever, Think, whatever.
    But you & your failed country won't get your greasy hands on any of it.
    So why are you, interested?
    Jealous, maybe?

    May 05th, 2013 - 10:42 am - Link - Report abuse 0
  • Think

    (33) Chère Isolde

    My hands are not greasy!!!

    As a matter of fact their long sleek fingers and their strong, dry, assuring grip have been praised by females of four continents.....

    May 05th, 2013 - 11:25 am - Link - Report abuse 0
  • lsolde

    You're making idle boasts now, Cher Think.
    And you still won't get OUR oil or OUR country.

    May 05th, 2013 - 12:30 pm - Link - Report abuse 0
  • Think

    Yes, we will ...

    May 05th, 2013 - 12:32 pm - Link - Report abuse 0
  • lsolde


    May 05th, 2013 - 09:53 pm - Link - Report abuse 0
  • Monkeymagic

    Poor old “Think” has confused himself quite a lot in this thread hasn't he?

    Firstly, his claim to have pleasures women from four continents is clearly a typo. He meant to say that he has pleasures four incontinent women.

    Secondly, his “Argie” economics. The global oil price (Brent crude) has more than trebled over the past decade, and held that increase for 5 years plus. “Think” believes this is an indication that the oil price is bound to crash over the next ten years and return to pre-2003 prices. You can see how these Argies get themselves into these massive debts that they default on with dickishness like that....

    Thirdly, he thinks Argentina will “get their hands” on Falklands oil. That made me laugh a lot, they we offered a share and Nestor ripped it up...ho hum..all gone, Cape Town here we come. However, ifArgentina should like some cheap gas around 2025 after yet another default, an economic crash, and the Kirchners just another “wasn't me” group to blame in problem.

    Interestingly, even using just scenario 1 (not “thinks” Argie economics, or in fact the likely significant increase in Brent crude between now and 2030), from just Sealion alone (using deidreoverdovers plan of just spending the interest), the FIs will have a large national reserve then Argentina by fucking funny is that??

    May 06th, 2013 - 10:10 am - Link - Report abuse 0
  • Raul

    Comment removed by the editor.

    May 09th, 2013 - 05:00 pm - Link - Report abuse 0

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