President Javier Milei focused this Thursday on Sea Lion, a British oil project advancing in the Falkland Islands under British authorization that contemplates the exploitation of Argentine natural resources without the authorization of the Argentine Republic.
During the national broadcast, the president warned that the advancement of the project poses a concrete risk to the country's strategic interests. “If we do not act firmly and swiftly today, in a few months they will have the material capacity to appropriate the oil reserves that lie in our sea,” he stated.
The location of the illegal oil project Sea Lion
Sea Lion is located about 220 kilometers north of the Falkland Islands, within the North Falkland Basin. The initiative is advancing with the backing of the United Kingdom, without the authorization of the Argentine Republic, and is driven by the companies Navitas Petroleum, which holds 65% of the project, and Rockhopper Exploration, which retains the remaining 35%.
According to information released by the companies, the field has proven and probable reserves of 314 million barrels of oil. The first phase anticipates production close to 50,000 barrels per day, while the start of extraction is projected for March 2028.
The complete development includes more than 60 subsea wells distributed across different phases and an initial investment of USD 1.8 billion until the first production is reached. Subsequently, another USD 2.1 billion would be added during a projected exploitation of approximately 30 years.
For Milei's government, the case has acquired particular gravity because it involves the extraction of a non-renewable resource belonging to Argentines in a territory occupied by the United Kingdom of Great Britain.
For 50 years, the United Nations has requested the United Kingdom to refrain from unilateral actions while the sovereignty dispute remains unresolved, including those related to the exploitation of natural resources. The official Argentine position maintains that the United Kingdom has systematically failed to comply with that call.
Measures announced by Milei
In light of the advancement of Sea Lion and other hydrocarbon projects, Milei announced a series of measures aimed at strengthening the state's tools to defend Argentine sovereignty and resources.
The government will regulate the procedure provided in Law No. 26,659 to improve coordination among various state agencies and the Foreign Ministry and to expedite the application of sanctions against those who violate Argentine legislation.
Milei announced sanctions for British oil exploitation in the Falklands and a strategy to reinforce sovereignty
Declarations of interest will also be incorporated into procedures related to the RIGI and hydrocarbon permits. The mechanism does not create a new substantial obligation but seeks to reinforce controls over compliance with current regulations.
Additionally, Milei announced that he will promote a modification of Law No. 26,659 to toughen sanctions and expand certain administrative and criminal consequences for companies providing services to firms involved in unauthorized exploitations.
Mile brings the Malvinas cause to Congress
The Executive will also send to Congress a National Sovereignty Defense Bill, which aims to create a National Security Council and coordinate the actions of the Foreign Ministry, Defense, Intelligence, Security, and Economy.
The strategy is completed with the strengthening of the protection of critical infrastructure and maritime and aerospace spaces, under a common national security policy aimed at defending Argentine sovereignty.
