The Falkland Islands government has no doubts about its right to licence legitimate offshore oil and gas exploration activities in accordance with Falklands' legislation and will continue to support the hydrocarbons industry as it moves from successful exploration towards oil production.
The government of Argentina's campaign to strangle the Falkland Islands hydrocarbons industry is 'unacceptable' and taking action against British and international oil and gas companies has dangerous implications for global business, warned Foreign Office minister Hugo Swire on Monday reacting to an Argentine federal court ordering the seizure of UK and US assets involved in Falklands' operations.
“Argentine courts have no jurisdiction in the Falkland Islands”, said Falklands' lawmaker Mike Summers early Monday in response to the latest Argentine attempt into bullying the Islands and derailing its economy.
Argentina's financial daily, El Cronista Comercial has published two articles on the Falkland Islands based on data from the 2014 Statistical Yearbook stating that the Islands enjoy a GDP per capita several times higher than Argentina and that the economy has been expanding at 11% annually since 2008.
Falkland Islands are enjoying the benefits of a healthy well managed economy, with excellent present and future prospects in its main industries, but also face challenges such as the need for manpower, closely linked to immigration, planning for a balance between environment and oil industry, a modern government and the continued attempts by Argentina to stifle the Islands economy and block economic development.
The incorporation of a major oil company is a sign of confidence in the future of the Falklands hydrocarbons industry and by any standards “absolutely fantastic”, said the Islands governor Nigel Haywood during an official reception at Government House for Rockhopper Exploration and their UK partners Premier Oil.