Malvinas welcome oil companies
Authorities on the Malvinas Islands, known as the Falkland Islands in the United Kingdom, said on Monday the islands are open "to all oil companies from around the world".
Stephen Luxton, director of Natural Resources of the archipelago, made the remarks in an interview with Xinhua at his office in the Department of Mineral Resources.
Explorations in the North Falkland Basin will begin commercial operation in the second half of 2017, he said.
The Sea Lion field, which is currently operated by the Rockhopper company in partnership with Premier Oil, will be able to commercialize some 328 million barrels, he said.
"We are expected to consolidate in the Scandinavian country (of Norway) a Sovereign Wealth Fund, and we will use the potential revenues wisely," Luxton said in response to the question as to what a small community of 3,000 people will do with the extraordinary sum of money they would receive from the oil industry.
On the subject of a possible partnership with Argentine firms, Luxton said, "I must say I do not believe that the Argentine government would allow it".
"But in the event this happens, we would have to analyze it very carefully," he said.
Xinhua
(China Daily 03/13/2013 page12)
