Argentina's government has announced it will file criminal charges against the oil company Navitas Petroleum and several of its subsidiaries and executives for operating in the disputed Falkland Islands. The move escalates President Javier Milei's claims of sovereignty over the islands, which are a British Overseas Territory but claimed by Argentina.
The lawsuit targets Navitas Petroleum, an Israeli-listed company that holds a 65% stake in the Sea Lion offshore oil project. This project, located in the North Falkland Basin, is estimated to contain 1.7 billion barrels of oil and is slated to begin production in 2028. The Sea Lion field is situated approximately 130 miles from the Falkland Islands.
In a statement, Milei's office alleged that drilling in the area constitutes a violation of Argentine law, which prohibits resource exploitation without the approval of Argentine authorities. "The state will continue to pursue actions deemed necessary to counter any act which breaches the sovereign rights of the Argentine Republic," the statement read.
The British government previously dismissed Milei's assertion of sovereignty and reiterated its "unwavering" position on the Falklands. Navitas Petroleum has not yet responded to the latest announcement. Last week, the company stated that Milei's remarks were "not expected to have a material effect on the development activities of the Sea Lion Project, including the timetable for completion of the Project's development." Rockhopper, a partial stakeholder in the Sea Lion project, has also not commented. Both companies have previously maintained that their licenses for the Sea Lion project are valid under Falkland Islands law.