MercoPress. South Atlantic News Agency

Argentina probes 60 people and companies over Falklands oil without disclosing new names

None of the 60 has been sanctioned: the proceedings are at an initial stage, and liability will be determined as each file concludes

Argentina's government has raised to 60 the number of individuals and companies subject to administrative proceedings over oil activity in waters near the Falklands, after opening case files against 15 more parties whose identities it did not disclose.

The measure was announced Tuesday by the Office of the President, in a statement signed by Javier Milei, and rests on Article 2 of Law 26,659, which bars carrying out, financing or providing services to hydrocarbon activity on the Argentine continental shelf without national authorization. The new files add to 45 opened days earlier. The statement did not identify those targeted or detail the conduct attributed to each. None of the 60 has been sanctioned: the proceedings are at an initial stage, and liability will be determined as each file concludes.

That approach contrasts with the first round. On September 4, when it announced the initial 45 proceedings, the government released the full list, which included Navitas Petroleum Development, Navitas Petroleum Atlantic, Rockhopper Exploration, Borders & Southern Falkland Islands, JHI Associates and supplier Noble Corporation, along with shareholders and investment funds such as AP Moller Holding, First Eagle Investment Management, Vanguard, Dimensional Fund Advisors and consultancy Netherland, Sewell & Associates. The list covered firms and individuals from at least eight countries.

The procedure was set out in Decree 868/2026, published on September 4, which designated the Foreign Ministry as the enforcement authority for the law. Where there are sufficient grounds, the ministry opens a case file and notifies the alleged infringer, who has ten business days to file a defense and submit evidence. A reasoned ruling can then close the proceedings or apply the penalties provided by law, ranging from fines equivalent to between 15,000 and 1.5 million barrels of oil to bans of five to 20 years, seizure of equipment and reversal of concessions held in Argentine territory. The framework also provides for excluding affected firms from the Large Investment Incentive Regime.

“The Argentine Republic does not and will not accept attacks on its sovereignty,” the statement said, reaffirming that the islands, South Georgia, the South Sandwich Islands and the corresponding maritime areas “belong to all Argentines” and that “no one may dispose of their resources without our country's authorization.” The government added that it would exhaust every administrative, diplomatic and legal avenue available to it.

The universe under scrutiny is considerably larger. Foreign Minister Pablo Quirno said on September 4, speaking to business leaders in Puerto Iguazú, that the government had notified some 180 companies from 29 countries. Quirno also indicated that the legal reform the executive plans to send to Congress would, alongside tougher penalties, include an exit route for companies that abandon operations in the archipelago and seek to work in Argentina again.

The administrative proceedings run parallel to a separate judicial track: the criminal complaint filed this week in federal court against five companies linked to the Sea Lion project. None of the allegations, on either track, has been proven. Navitas did not respond to the accusations and a Rockhopper spokesperson declined to comment; both companies have maintained that they operate under valid licenses issued by the self-governing Falkland Islands government, which Argentina does not recognize.

Sovereignty over the archipelago, a British overseas territory, remains disputed. In a 2013 referendum, 99.8% of residents voted to retain that status. Foreign Office Minister Kirsty McNeill told the House of Commons on Tuesday that there could be no doubt about Britain's commitment to the islanders, and that hydrocarbon production is a commercial decision for the local government and the companies involved.