Halliburton rules out involvement in Sea Lion oil project as Argentina scrutinizes activity
HAL•Halliburton said it informed Argentine authorities that it will not work on the Sea Lion offshore oil project or participate in hydrocarbon exploration and production around the Falkland Islands.
1. Halliburton’s statement
Halliburton said it would not work on the Sea Lion offshore oil project or participate in hydrocarbon exploration and production activities in or around the Falkland Islands, known in Argentina as the Malvinas. The company said Argentine federal authorities had raised questions about its potential involvement and the enforcement of existing and proposed legislation.
2. Argentina’s opposition
Argentine President Javier Milei has announced plans to sanction companies involved in oil development around the British-controlled islands and presented a bill in September to crack down on companies operating there. The Sea Lion oilfield lies about 140 miles north of the islands and is estimated to hold 1.7 billion barrels of oil. Argentina has opposed the project since its discovery in 2010, when it declared drilling illegal.
