The United Kingdom would promote a popular consultation to carry out an oil expedition in the Malvinas

In the last few hours, it was learned that the Government of the United Kingdom seeks to promote an oil expedition in the Falkland Islands with the aim of drilling and extracting more than 500 million barrels of oil. It would generate royalties in millions of pounds for the islands. As reported by Infobae, the Department of Mineral Resources of the island’s kelper management confirmed the information that, although it is not yet a fact, a popular consultation is expected to be held that opened to the public on June 24 and will close on August 5. According to the British media The Daily Telegraph, the field is believed to contain 1.7 billion barrels of oil, making it several times larger than Rosebank, the largest planned development for the U.K.’s North Sea, which is estimated to contain 300 million barrels. The media also indicated that if the extraction in the Falkland Islands takes place, “they could benefit from millions of pounds in royalties and taxes applied to the profits, potentially transforming the entire economy of the islands, which currently depends on sheep farming and fishing.” If the referendum is approved, the Israeli company Navitas Petroleum will be in charge of drilling and exploration tasks in Sea Lion, a location located about 200 kilometers north of Puerto Argentino. Navitas Petroleum owns the majority of exploration rights, which means that most of the profits will go to shareholders in Israel and the United States. Some sectors are in favor of the initiative, while others oppose it due to the potential environmental and political consequences.

Original source in Spanish