0.625
%
Positive
81
mm boe
0
%
Issues between operators and the government remain, but dialogue is open, and progress on the Sea Lion development under Navitas and Rockhopper supports the outlook. The key concern remains that, once production is under way, the government will seek to increase its take. Outlook maintained because Sea Lion is advancing towards development. Outlook: Positive. Risk premia unchanged at 0.625%.
October 7, 2026
Americas - South
mm bbl
bcf
Southern South America, islands in the South Atlantic Ocean, about 500 km east of southern Argentina.
Concession
Simple Concession-based fiscal regime, with only royalty and corporate income tax payable.
The Falkland Islands is a stable, self-governing British Overseas Territory, although Argentina continues to claim sovereignty. Political and legal risk is low, the economy is driven by fisheries, and the tax regime is moderate. The Sea Lion oil development in the North Falkland Basin, led by Navitas Petroleum with Rockhopper Exploration, is being advanced towards first oil, with a phased FPSO development.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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