Argentine Companies Back Milei Sanctions on Foreign Operations in the Falklands

Companies operating in Argentina have rallied behind President Javier Milei’s decree targeting oil firms involved in projects in the Falkland Islands, which Argentina claims as its territory under British control.

Energy companies Schlumberger, Halliburton and Baker Hughes, along with major Argentine business organizations, issued statements supporting the measure announced by the government on Thursday. The decree was published in Argentina’s Official Gazette.

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We are not participating and do not plan to participate in tender processes for the provision of services to hydrocarbon projects in the Falkland Islands or the surrounding maritime areas.

The measure seeks to speed up procedures for applying Law 26.659, legislation approved by Argentina’s Parliament in 2011. The law sets conditions for exploring and extracting hydrocarbons on Argentina’s continental shelf and provides for sanctions against companies operating without Argentine authorization.

Schlumberger said it was not participating and did not plan to participate in tenders for hydrocarbon projects in the Falklands or the surrounding maritime areas. Halliburton said it was not involved in the Sea Lion exploration project, promoted by Britain’s Rockhopper and Israel’s Navitas in the northern Falklands basin. The company said it respects Argentina’s sovereignty and remains committed to the country and the responsible development of its energy sector.

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It respects the sovereignty of the Argentine Republic and reaffirms its commitment to Argentina, its people and the responsible development of the country’s energy sector.

Baker Hughes issued a similar statement, saying it was not involved and did not plan to take part in tenders for projects in the islands or surrounding maritime and insular areas.

The G6 business grouping, which includes Argentina’s banking, stock exchange, commerce, construction, agricultural and industrial organizations, also backed the decree. It called sovereignty over the Falklands “a national, permanent and non-negotiable cause” that should unite Argentines above political differences. The group said defending national territory, natural resources and strategic interests should remain a state policy.

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Sovereignty over the Falkland Islands is a national, permanent and non-negotiable cause that stands above political differences and must unite all Argentines.