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Watching The World: Argentina, UK eye Falklands oil
05/04/2009
The Falkland Islands are in the news again, a matter of interest to the oil and gas industry given the reserves under the region’s waters, estimated at 18 billion bbl.Last week, the Argentine foreign ministry presented the UN with 40 volumes of documentation staking the country’s claim to 1.7 million sq km of seabed, including the UK overseas territories of the Falklands, South Georgia, and South Sandwich Islands, and a largish chunk of Antarctica.Argentina’s claim, submitted under Article 76 of the 1994 UN Convention on the Law of the Sea, aims to expand its maritime territory by 35% to 370 nautical miles from the shore on the basis of a claimed extension of the Argenti...
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