British Begin Drilling in Falklands
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Monday, February 22, 2010
A British rig has begun drilling for oil in the territorial waters of the Falkland Islands, despite strong opposition from Argentina.
The platform has been towed to a point 100km (62 miles) north of the islands in the South Atlantic. Argentina says the move violates its sovereignty and has imposed shipping restrictions around the islands.
It is estimated the Falklands have the equivalent of 60 billion barrels of oil in total. Desire Petroleum, which is carrying out the drilling, said operations started on the Liz 14/19-A exploration well at 1415 GMT. In a statement to the London Stock Exchange, it said: "The well is being drilled to an estimated target depth of circa 3,500 metres (11,480 feet).
"Drilling operations are expected to take approximately 30 days and a further announcement will be made once drilling is completed."
But a spokesman for the company told the BBC the amount of oil which could be exploited commercially would probably be a fraction of the estimated 60 billion barrels.
Argentina has threatened to take "adequate measures" to stop British oil exploration in contested waters around the islands, and is seeking support from Latin American countries at a regional meeting in Mexico.
It wants its neighbours to also impose restrictions on shipping in the area.
Argentina can already count on support from President Hugo Chavez of Venezuela, who said Britain was being irrational and had to realise the "time for empires was over".
Argentina has long claimed the islands, which it calls the Malvinas.
It invaded the Falklands in 1982, before a UK taskforce seized back control in a short war that claimed the lives of 649 Argentine and 255 British service personnel. But it has ruled out military action and is trying to pressure Britain into negotiations on sovereignty.
Last year Argentina submitted a claim to the United Nations for a vast expanse of ocean, based on research into the extent of the continental shelf, stretching to the Antarctic and including the island chains governed by the UK.