The American company, one of the three largest oil service companies in the world, confirmed that it will not participate in hydrocarbon projects related to the Falkland Islands, in compliance with Argentine regulations
This historic corporate withdrawal is not an isolated event but deepens the trend initiated by SLB (formerly known as Schlumberger), the number one in the sector worldwide.
Baker Hughes
The local branch Schlumberger Argentina S.A. had already issued a categorical statement acknowledging that, in accordance with Decree 868/2026, "it is not participating nor plans to participate in bidding processes aimed at providing services for hydrocarbon projects in the Falkland Islands, as well as in the surrounding maritime areas", reaffirming its total commitment to the current regulations of the Republic.
With the two most powerful oil service corporations on the planet retreating before presidential directives, corporate isolation in the usurped archipelago is absolute.
The relentless legal engine that forced this outcome was the signing of Decree 868/2026 driven by President Javier Milei, which significantly tightened the application of Law 26.659.
The new regulation placed the Foreign Ministry as the direct enforcement authority, drastically shortened the deadlines for imposing sanctions, and extended the scope of penalties jointly on subcontractors, strategic suppliers, directors, and shareholders of the infringing firms.
Pablo Quirno on X:
In this context, the libertarian administration has placed global corporations in front of a dilemma forged in the laws of the market. As the president warned in his official message: "Those who operate in our islands behind the back of the Argentine government will have to choose between an illegal bet in a disputed territory and a profitable and safe operation in a sovereign country with clear rules and predictability".
With the monumental energy potential of Vaca Muerta in full expansion phase and the unbeatable fiscal and tax advantages offered by the new RIGI regime, the choice for the boards in Houston and London was obvious. The objective of the administration of Javier Milei is being fulfilled with millimeter precision: to dry up the market of strategic suppliers of the British usurpers until financially suffocating the illegal exploitation of our non-renewable natural resources
The historic paradigm shift designed by President Javier Milei has marked an irreversible milestone in the defense of national sovereignty in the South Atlantic. Leaving behind the apathy and useless rhetoric of previous governments that only impoverished the country, the current Government of Freedom has decided to strike at British usurpation —installed by force in 1833— where it hurts the most: in its cost structure and in the international capital market.
In this framework of sovereign offensive and market realism, the American corporation Baker Hughes, one of the three largest oil service companies in the world, officially confirmed its total submission to Argentine regulations.
Baker Hughes Argentina S.R.L.
The local subsidiary, Baker Hughes Argentina S.R.L., formally confirmed through a statement that "it does not participate nor plans to participate in bidding processes aimed at providing services for hydrocarbon projects in the Falkland Islands, as well as in the surrounding maritime and insular areas".
This unprecedented retreat of the North American giant occurs in strict compliance with Decree 868/2026, which regulates the harsh economic sanctions imposed by the National Executive Power.
The capitulation of Baker Hughes represents a devastating and potentially lethal blow to the development of the Sea Lion project. This illegal offshore field, operated by the Israeli firm Navitas Petroleum —which owns 65% of the license— and the British Rockhopper Exploration —owner of the remaining 35%— has suddenly found itself without its most critical technological supports.
Although Baker Hughes does not engage in the direct extraction of crude oil, it holds the global monopoly on the provision of technology, high-complexity equipment, and essential drilling services for such offshore initiatives in ultra-deep waters.
Without its active participation, the British-Israeli consortium faces a logistical and technological desert that will make hydrocarbon exploitation extraordinarily costly, difficult, and unfeasible.
