The oil and gas company Borders & Southern Petroleum , which operates illegally in the Malvina Islands in violation of numerous laws of the Argentine Republic, reported yesterday that it obtained a two-year extension for its exploitation licenses in the areas PL018, PL019 and PL020 .
The contract was granted by the illegitimate Malvinas Government and will be valid, according to Harry Baker, the company's executive director, for the period between December 31, 2024, and the same day and month in 2026. This will allow the company to move forward with the capitalization of the Darwin field, which contains key gas condensate resources.
According to the company's own information, the Darwin offshore field has reserves of 462 million barrels of recoverable liquids, a situation that places it in second place in terms of volume, behind Sea Lion/León Marino operated by Rockhopper and Navitas.
The extension of their licences will therefore open the door to new partners interested in exploiting this type of reserves, which cover the southeastern sector of the Malvina Islands.
“These licence extensions will allow us to continue to seek a suitable partner to develop Darwin’s potential and explore new structures in the area,” Baker said, as reported by London South East . He also highlighted the renewed interest in the industry in exploring strategic locations.
“This advance in the exploitation of hydrocarbons in the Malvinas occurs at a time of diplomatic rapprochement between Argentina and the United Kingdom. During these last months, both countries worked on joint initiatives in the area of security and transport. However, for the current Argentine Government, oil activity in this area should be considered a sensitive issue of sovereignty, since historically any exploration in the area without its consent has been rejected,” argues Escenario Mundial .
As stated on its own website, the British oil company owns 100% of the illegal licenses obtained in the Malvinas, and operates three large production fields covering an area of almost 10,000 km2. The work carried out to date includes 2D and 3D seismic studies and a successful drilling campaign.
In 2012, the Company made a significant gas condensate discovery (Darwin) with its first exploration well. The Borders & Southern acreage surrounding the discovery, which demonstrates a proven petroleum system, contains numerous low-risk, high-impact prospects.
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