SLB's definition comes as Milei's government advances with sanctions against companies and individuals related to oil activities in the Falklands.
The company reported that it does not participate and does not plan to participate in hydrocarbon projects in the Falkland Islands and their surrounding maritime areas
SLB's definition comes as Milei's government advances with sanctions against companies and individuals related to oil activities in the Falklands.
SLB, the world's largest oil services company, announced this Saturday that it will not participate in hydrocarbon projects in the Falkland Islands, following the announcements made on Thursday night by President Javier Milei and the subsequent publication of Decree 868/2026 in the Official Gazette.
The company's position was communicated through a statement from Schlumberger Argentina S.A. (SLB), which directly referenced the sanctions established by the libertarian administration.
“SLB, in accordance with Decree 868/26 of the National Executive Power, informs that it is not participating and does not plan to participate in bidding processes aimed at providing services for hydrocarbon projects in the Falkland Islands, as well as in the surrounding maritime areas. In this regard, SLB reaffirms its commitment to comply with current regulations,” the statement reads.
The company presents itself as “a global technology company driving energy innovation for a balanced planet.”
It has a presence in over 100 countries and employees from nearly double that number of nationalities. Its activities include the provision of services, digital solutions, and technology for the oil and gas sectors, as well as initiatives related to decarbonization and the development of new energy systems.
According to official information, a sanctioning process has already been initiated against 45 individuals and companies to determine whether there were violations of Law 26.659 for oil activities carried out without Argentine authorization. The proceedings will also consider shareholders and service providers.
In parallel, another commercial link related to the Sea Lion project has been exposed. One of the four commercial contracts signed by Navitas to initiate the development corresponds to the Dutch company Bluewater Energy Services, which provided floating buoys from which the oil that will reach the Atlantic coast via the Vaca Muerta Sur (VMOS) pipeline will be exported.
Decree 868/2026 establishes a more agile application of Law 26.659. The regulation applies to those who carry out or are authorized to develop activities in Argentina and prohibits not only direct or indirect participation in operations carried out without Argentine authorization on the continental shelf but also certain financial, logistical, technical, commercial, and consulting operations.
In this context, SLB confirmed that it does not participate and does not plan to participate in tenders aimed at providing services for hydrocarbon projects in the Falklands and the surrounding maritime areas, and reaffirmed its commitment to comply with current regulations.