0.625
%
Positive
59
mm boe
0
%
Issues between operators and government officials remain outstanding, but there appears to be, currently at least, an open dialogue between the two. While modest in its risk weighting, the outlook remains dominated by the concern that once production is underway, that further changes me be retrospectively applied.
May 18, 2021
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.
Before the Falklands War, sheep-farming was the Falkland Islands' only industry. Since the late 1980s, when two species of squid popular with consumers were discovered in substantial numbers near the Falklands, fishing has become the largest part of the economy. On 14 September 2011, Rockhopper Exploration announced plans under way for oil production to commence in 2016, through the use of Floating production storage and offloading (FPSO) technology, replicating the methodology used on the Foinaven field off the Shetland Islands. The production site will require approximately 110 people working offshore and another 40 working onshore. In response to renewed calls from Argentina for Britain to relinquish control of the islands, a referendum was held in March 2013, which resulted in 99.8% of the population voting to remain a part of the UK.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
© 2021 Oil & Gas Advisors Limited
Website by Rugby Web Design
