The second largest oil services company in the world confirmed that it does not participate and will not participate in the Sea Lion project or in exploration or production activities around the Falkland Islands
Both companies formally confirmed that, in strict compliance with Decree 868/2026, they will not participate in tenders nor provide their technologies to hydrocarbon projects in areas subject to national legislation without the proper Argentine authorization.
The technical impact of this triple desertion is simply devastating for the Sea Lion project. This illegal offshore initiative —operated by the Israeli firm Navitas Petroleum with a 65% stake and the British Rockhopper Exploration with the remaining 35%— has been left completely orphaned of the only suppliers capable of providing cutting-edge technology, simulation software, and deep drilling equipment essential for operating in the hostile southern sea.
The Argentine Republic is experiencing an unprecedented historical geopolitical paradigm shift under the bold leadership of President Javier Milei. Burying decades of inaction, sterile rhetoric, and neglect from previous governments that impoverished the country and destroyed national wealth, the current Government has deployed an unyielding and realistic strategy to defend our sovereignty over the Falkland Islands.
The milestone of this sovereign offensive was solidified in recent hours with the unconditional surrender of Halliburton, the second largest oil services company in the world. Through an official statement issued by its subsidiary Halliburton Argentina S.A., the North American giant capitulated to the provisions of Decree 868/2026 signed by President Javier Milei. Halliburton confirmed that it will not participate in the
Halliburton
In its formal declaration, the company was unequivocal in stating that "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". In the same vein, the corporation categorically reaffirmed that "it does not participate in the Sea Lion Project nor in any related exploration or production activities taking place around the Falkland Islands", ensuring that "it conducts its operations in full compliance with the laws and regulations of the Argentine Republic".
The significance of this corporate retreat takes on a major institutional and historical dimension. This is a global corporate titan that between 1995 and 2000 had Richard Cheney as its global CEO, who later served as Vice President of the United States from 2000 to 2008
Currently, Halliburton boasts an international market capitalization nearing USD 33 billion. This dazzling capitulation was immediately celebrated by Foreign Minister Pablo Quirno, who highlighted on his social media the immense strategic weight of the North American firm and the resounding success of the legal blockade designed by the national Government.
With the withdrawal of Halliburton, the Government of Javier Milei has achieved a perfect diplomatic poker of victories by forcing the exit of the three corporations that absolutely dominate the global oil services market.
Halliburton
This exodus of titans began with the number one in the sector, SLB (formerly known as Schlumberger, with a market valuation exceeding USD 85 billion), and continued with Baker Hughes (whose capitalization exceeds USD 63 billion and which had a count of 32 active drilling rigs operating in Argentina as of last May).
The illegal operators are thus exposed to an insurmountable logistical void or to hiring lower-tier firms, which will escalate the technical risk of the offshore operation to financially prohibitive levels.
Halliburton
The economic equation posed by the libertarian administration has been mathematically impeccable. According to the insights provided by specialist and CEO of the consulting firm Aleph Energy, Daniel Dreizzen, the estimated reserves of the Sea Lion project amount to just 1% of the geological potential of Vaca Muerta.
Faced with such market asymmetry, Decree 868/2026, which streamlines the application of Law 26.659 and extends criminal, commercial, and financial sanctions jointly against directors, shareholders, and subcontractors, transformed the British colonial adventure into a corporate suicide for anyone attempting to operate on both sides.
Multinationals have chosen the sensibility of the free market and the growth of Argentina as an energy-exporting power. National sovereignty is no longer defended with empty speeches or the humiliating submission of the past, but with the weight of the law, respect for property, and the undeniable power of freedom.
