Thursday, February 7, 2013

Argentina vows to prosecute Falklands oil firms

LONDON (Reuters) - Argentina will continue legal action against energy firms working off the disputed, British-controlled Falkland Islands, Argentine Foreign Minister Hector Timerman said on Wednesday.

"We will continue to seek legal action against (these) hydrocarbon companies ... they are stealing the natural resources of Argentina," he told reporters at a news conference in London.

Britain and Argentina fought a 10-week war in 1982 over the Falklands, part of Britain's self-governing territories, some 300 miles off Argentina's coast.

Buenos Aires has ramped up efforts to stake its claim to the territory as London-listed firms seek to tap oil and gas deposits offshore the islands, known as Las Malvinas in Argentina.

Last March, Argentina said it would take legal action against any companies involved in oil exploration off the islands.

Timerman, visiting Britain to further his country's claims to the Falklands, was speaking at a news conference at the Argentine embassy in London.

He has refused to meet British Foreign Secretary William Hague to discuss the sovereignty issue due to Britain's insistence that Falkland islanders also attend the meeting.

Argentina has attempted to make life difficult for British oil explorers, but its hostility has not deterred companies and the islands are set to start producing their first oil in 2017.

Rockhopper Exploration has formed a $1 billion partnership with Premier Oil to pump oil from its find north of the islands.

Last month, another British firm, Borders and Southern Petroleum, said its gas condensate discovery in the Falkland Islands was also commercially viable.

(Reporting by Mohammed Abbas; editing by Stephen Addison and Rosalba O'Brien)

Source: http://news.yahoo.com/argentina-vows-prosecute-falklands-oil-firms-133157260.html

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