Opposition lawmaker alleges sanctioned British oil company accessed Argentina’s investment regime under a new name

“Banned over the Falklands, rewarded by RIGI” was the headline of opposition lawmaker Maximiliano Ferraro’s post accusing a British oil company of benefiting from Argentina’s investment incentive program under a different name.

Ferraro, a national legislator and president of the Civic Coalition, said Harbour Energy, previously known as Premier Oil PLC, owns 15% of Southern Energy. The government approved RIGI benefits for the project through Resolution 559/2025. Southern Energy plans to develop and export gas from Río Negro.

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Banned over the Falklands, rewarded by RIGI

Premier Oil was barred in Argentina in 2013 under Resolution 481 and Law 26.659 for operating without authorization on the continental shelf near the Falkland Islands. Ferraro said the company changed its name in 2021, but remained the same legal entity registered in the United Kingdom since 2002. In his view, the change did not lift the sanction, which remains in force until 2028.

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It would be good for the ministers to explain how a company subject to a firm ban until 2028 ended up participating in a project benefiting from RIGI and whether they plan to take any additional measure or consideration in response.

Ferraro argued that Law 26.659 applies not only to companies operating without authorization, but also to their shareholders and controlling entities. He cited Article 5, which he said prohibits the state from contracting with those companies, their subsidiaries or their shareholders. He questioned how the government approved the gas export project without identifying the existing prohibition.

The lawmaker called on Caputo and Quirno to explain the decision and say whether the government would take additional measures. His criticism followed the government’s announcement of a new drive against companies linked to hydrocarbon exploration and production in the Falkland Islands, including plans to sanction 45 companies and individuals.

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Law 26.659 does not prohibit only operating in the Argentine sea without authorization. Its Article 2 prohibits that conduct by the operating company and also by its shareholders.