In brief
Argentina plans to file criminal charges against Israeli‑listed Navitas Petroleum over its Sea Lion offshore project near the Falkland Islands, following President Javier Milei’s threat of sanctions on foreign oil firms. The move escalates a long‑standing dispute over sovereignty between the UK and Argentina, with the UK Foreign Office reaffirming its commitment to the Falkland Islanders. Navitas holds a 65% stake in a 1.7‑billion‑barrel field slated to start production in 2028; the company argues the project is fully licensed and UK‑controlled. The case underscores heightened tensions as each side pushes for legal and economic leverage to assert its claim.
Argentina says it will file criminal charges against oil company Navitas Petroleum for operating in waters off the Falkland Islands.
President Javier Milei has warned that any foreign oil firm drilling in the British overseas territory will face sanctions.
The UK Foreign Office has responded that there is no doubt about Britain’s commitment to the Falkland Islanders. The Foreign Office added that the decision by the Falklands government to pursue hydrocarbon production is a commercial decision for the islands and the future belongs to its residents.
The dispute over sovereignty dates back more than 40 years, to the 1982 conflict in which a British task force expelled Argentine troops from the islands.
In a speech to the nation, Milei reaffirmed Argentina’s claim to the islands as “historically and legally Argentine.” He dismissed the 2013 referendum in which 99.8% of residents voted to remain a British overseas territory as meaningless because the land had been “usurped” by Britain, therefore the Islanders have no legitimate right to self‑determination.
Navitas, which is listed on the Tel Aviv Stock Exchange, holds a 65 % stake in the Sea Lion offshore project, which is set to begin production in the North Falkland Basin in 2028. The field, located about 130 miles (209 km) from the islands, contains an estimated 1.7 billion barrels of oil.
The charge against Navitas and its subsidiaries follows Milei’s statement that drilling in the area violates Argentine law that bans resource exploitation without approval from Argentine authorities. Navitas has not yet responded, but stated last week that Milei’s remarks were unlikely to affect the project’s development schedule or licensing status. The UK‑controlled Sea Lion licenses are still valid, the company said, while Rockhopper, a partial partner, has yet to comment on the allegations.
