World’s biggest oil-services company says it will not do business in the Falklands

SLB, the world’s largest oil-services company and a major player in Argentina, moved to make one position unmistakably clear: it will not seek business in the Falkland Islands or the surrounding maritime areas.

The company, formerly known as Schlumberger, said it was neither participating in nor planning to participate in tenders for services connected with oil and gas projects in the islands. SLB said the clarification followed Argentina’s Executive Decree 868/26 and reaffirmed its commitment to complying with current regulations.

The decree, published in the Official Gazette after President Javier Milei announced it in a nationally televised address, increases controls and penalties for companies and individuals conducting oil and gas activities without Argentine permission on the continental shelf and in the maritime areas around the Falkland Islands.

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is not participating or planning to participate in tender processes for the provision of services for hydrocarbon projects in the Falkland Islands, as well as in the surrounding maritime areas

Argentina’s government has already said it will seek sanctions against 45 companies and individuals. The measures focus particularly on the Sea Lion project in the North Falkland Basin, led by Rockhopper Exploration and Navitas Petroleum, and extend to shareholders, executives, investment funds, advisers, and infrastructure and service providers linked to the projects.

The decree also requires companies seeking benefits under the Incentive Regime for Large Investments to submit a sworn statement promising they will not do business in the Falklands. The same requirement applies to companies seeking oil concessions in Argentina. Milei also said the government would speed up construction of a planned integrated naval base in Tierra del Fuego.

The government’s move followed renewed public enthusiasm over sovereignty claims, including an Argentine national team flag displayed after its World Cup match against England. The article’s final sentence is truncated after referring to comments by President Donald Trump about possible support for Argentina’s historic claim.

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In this regard, SLB reaffirms its commitment to complying with current regulations.