MercoPress. South Atlantic News Agency
Falklands included in Italy's Edison divesting of its oil and gas unit
Italian energy group Edison, part of French utility EDF, is preparing the sale of its oil and gas unit, the latest power producer to abandon fossil fuels to focus on its retail business, four industry sources said, and quoted by Reuters. Its oil and gas unit includes interests in the Falkland Islands. Read full article
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Apr 05th, 2018 - 10:43 am - Link - Report abuse -3Yet another rat “divesting” itself ut of the Engrish Pirae Oil Adventure in Malvinas...
Falklands included in Italy's Edison divesting of its oil and gas unit
The Argentinian Claim:-
Apr 05th, 2018 - 10:56 am - Link - Report abuse +1In April 2009 Argentina submitted a formal claim to the Commission over a large continental shelf area across much of the seabed encompassing the Falklands, South Georgia, South Shetland Islands and British Antarctica.(Submission by the Argentine Republic to CLCS 21 April 2009, un.org,depts.os/CLS arg. 25. 2009).
Argentina's Continental Shelf Claims and The UN CLCA Commission (1 page):-
https://www.academia.edu/33898951/Argentinas_Continental_Shelf_Claims_-The_UN_CLCS_Commission
And what does international law say about the ownership of natural resources?
Think- read again- they directors are changing course-the fact that Falklands is a minor part of their operations is irrelevant to them - they are changing overall business strategy.
Apr 05th, 2018 - 11:51 am - Link - Report abuse +3Nothing to do with English either- Edison are European and their major partner in that block- who will possibly take over their minor % anyway is a US Company.
where does the English involvement come from?
Premiere Oil are not involved with Edison as far as I know?
Nor is Rockhopper
Apr 05th, 2018 - 12:19 pm - Link - Report abuse +1Mr. Timlander1...
Apr 05th, 2018 - 02:27 pm - Link - Report abuse -3I don't Think I need to read again..., lad...
I know who Frog owned Spaghetti Edison are...
I know they partnered 25% - 75% with Yankee Noble Energy a while ago into the Engrish Pirate Oil Adventure in Malvinas...
...Speaking about Yankee Noble Energy... want to wager that they are the next divesting themselves out of Malvinas...?
Mind you........., not before they get the FIG(leaf) to pay dearly for this ugliness...
https://www.offshoreenergytoday.com/wp-content/uploads/2014/03/Noble-Frontier-floating-dock-reaches-its-destination.jpg
Think,
Apr 05th, 2018 - 04:15 pm - Link - Report abuse +2Would not know about Nobles plans - alot depends on their bank balances and how they see the future over next 3-10yrs for oil I guess, because they do hold some promising blocks I think.
As for the oil dock- hopefully not- they can tow it way one day when they deem it no longer needed(jv with Premier anyway not just Noble) and no real economic use the Falklands commercially other than what it was designed for as limited vehicular access etc.
Guess all will be revealed over next couple of years or so as to what oil prices do- or dont do.
Mr. Timlander1...
Apr 05th, 2018 - 05:20 pm - Link - Report abuse -2As for the oil dock... Ain't we in April now...?
http://en.mercopress.com/2018/01/22/falklands-takes-over-premier-s-temporary-dock-facility-until-april
Yup- so far only recall one ship - a British Sailing ship- Tenacious- making use of it this last summer, so rest my case its not that great for multipurpose and even daft FIG would hopefully not want to buy it if the oil folks put it up for sale!
Apr 05th, 2018 - 08:16 pm - Link - Report abuse 0From https://www.eldestapeweb.com/usura-petrolera-malvinas-n41790
Apr 05th, 2018 - 11:04 pm - Link - Report abuse 0“In its report published on April 2, ”Oil in the Malvinas: the crucial 2018 for the great colonialist hydrocarbon usury (or its great blockade)”, the OETEC observatory showed that 2018 will be decisive to start, as of 2019, the Sea Lion oil project, in the Malvinas North Basin, 220 km north of the islands. Indeed, this year, the oil companies Premier Oil and Rockhopper Exploration (RE) will devote themselves to the collection of 1,500 million dollars, a figure that is already advanced and that will allow them to develop drilling of 23 to 30 productive wells. It happens that, in reality, this year can also be strategic to curb the colonialist usury. The OETEC director, Federico Bernal,
To march on rails as it has been happening, 2018 will be able to witness the final and official sanction (approval) of the first hydrocarbon exploration and exploitation project in the Malvinas Norte Basin. If approval is obtained, drilling will begin in a year and a half, while the first barrel of crude -from a minimum of 500 million discovered and audited, out of a total of approximately 1,000 million technically recoverable-, will have to be produced / exported during the first half of 2022.
”The recoverable minimum of 500 million barrels, already certified, is equivalent to almost 3 years of national oil production at values of 2017. Compared with the first oil province, Chubut, 10 years after its production, and with the province of Tierra of Fire, jurisdiction directly involved, 143 years after its production, remember that Sea Lion is just a project of the many in dance of one of the basins of the four with hydrocarbon potential around the islands, ”explained Bernal.
The economics of oil exploration is becoming more and more dodgy. The new discovery off Bahrain, the technology of oil extraction marching forward, the progress in exploiting renewables and advances in battery technology. All these things knock the economics of marginal deposits. But whilst the Falklands black gold is still in the ground its a valuable resource that will come into its own in the future.
Apr 06th, 2018 - 09:00 am - Link - Report abuse +2England will return the Malvinas within 25 years.
Apr 09th, 2018 - 12:42 am - Link - Report abuse 0Commenting for this story is now closed.
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