Falklands’ oil industry, Rockhopper plans equity raise for second FPSO

Monday, August 31st 2026 - 08:47 UTC

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Rockhopper Exploration is planning an equity capital raising to fund its share of a second FPSO, (OSX-1), for the Sea Lion oil field development in the Falkland Islands, since operator Navitas Petroleum exercised its option to acquire the vessel for some US$ 125 million with the purpose of further adding production to 125.000 barrels of oil per day. Read full article

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Steve Potts
Regarding Falklands oil exploration, Argentine Foreign Minister Jorge Taiana stated in February 2010, that his Government would take 'all measures necessary to preserve our rights' and also reiterated that Argentina had a 'permanent claim' on the islands, saying ' Buenos Aires would complain to the UN over the oil project and might take the case to the International Courts of Justice in the Hague.' (British Drilling for Falklands Oil Threatens Argentine Relations, Pope, F. , 13 Feb 2010 and Potential Drilling off Falkland, Provokes Tension Between Argentina & UK, IRRU News, 17 Feb 2010).
Aug 31st, 2026 - 09:00 am - Link - Report abuse 0
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FortHay
Right, so how did Venezuela's claim on Essequibo work out for them?
Aug 31st, 2026 - 04:31 pm - Link - Report abuse 0
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Steve Potts
Argentinians claim that the UK is in breach of UNGA 31/49 THAT ''Calls upon the two parties to refrain from taking decisions that would imply introducing unilateral modifications in the situation while the islands are going through the process recommended in the above mentioned resolutions; ''(UNGA 31/49, 85th plenary meeting 1 December 1976).

They conveniently forget their own actions that nullified this resolution - Argentina’s UNGA 31/49 - A Defunct Resolution: https://www.academia.edu/.../Argentinas_UNGA_31_49_A...
Aug 31st, 2026 - 05:40 pm - Link - Report abuse 0
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Pugol-H
Venezuela's claim on Venezuela isn’t working out very well for them, at the moment.

As for the Falklands oil/gas:

UNGA Resolution 1514 (XV) (1960): Establishes the right to self-determination and free economic development.

UNGA Resolution 50/33 (1995) & 54/91 (1999): Reaffirms the inalienable right of colonial and NSGT peoples to dispose of their natural resources and urges administering powers to safeguard these property rights.

No mention of any claimant’s rights, I note.

Argentina must first establish it has, or at least had, sovereignty over the territory, before it can claim the natural resources, something which Argentina has never done.

And unless the Falkland Islanders suddenly decide to become Argentinian, Argentina will never be able to do.

A Bullshit version of history, which is contradicted by the evidence, isn’t going to cut it.

As for UNGA 31/49:

‘Called upon both parties to refrain from taking unilateral decisions that would alter the status of the islands while the dispute was ongoing.’

Well, invading is as clear a breach of this resolution as you can get, where the UK safeguarding the property rights of the NSGT, is in full accord with the resolution.
Aug 31st, 2026 - 10:19 pm - Link - Report abuse 0
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