One More Reason Why Argentina Is Eyeing The Falklands

Falklands Oilfields Could Yield $176bn Tax Windfall -- The Telegraph

The Falkland Islands stand to benefit from an enormous $176bn (£111.7bn) tax windfall from oil and gas exploration, according to a major new report.

A study to be handed to the UK Government this week will lay bare the potential riches on offer from drilling in waters within the 200-mile exclusion zone set up during the 1980s Falklands War to mark the boundaries of British territory.

A group of UK-listed companies is involved in exploring four major prospects this year, with the largest, Loligo, potentially holding more than 4.7bn barrels of oil. By comparison Catcher, the biggest discovery in the North Sea of the past 11 years, is believed to hold only 300m barrels.

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My Comment: With estimated total reserves at billions of barrels (if not more) .... worth hundreds of billions (if not more), one can see why Argentina with its budget deficits and financial problems are jumping. As for the Falkland Islanders, oil is going to transform that community big time.