The Falkland Islands are set to generate £4billion in revenue from a new oil field, known as Sea Lion, which is expected to start pumping oil in 2028. The discovery of 900million barrels of oil has sparked Argentina's latest claim over the territory, with President Javier Milei insisting he will "act swiftly" to "recover" the islands. The project will create hundreds of jobs and transform the islands' economy, potentially tripling its gross domestic product. Argentine president Milei has announced sanctions against Israeli and UK companies leading the project in response to the discovery.
Written by the local model on 2026-09-05,
using this article's own text rather than the other coverage of the
same event.
Why this leaning score
The article's own words the score was based on. Each is quoted
verbatim and was checked against the article text before being
stored, so you can find it in the original.
Leaning score -0.35 for article 4565 (high confidence, 2 verified quotes) · logged 2026-09-05
- See more Daily Mail on Google - save us as a Preferred Source
The Falkland Islands are set to cash in £4billion from oil reserves buried beneath the Atlantic, as Argentina ramps up its claim over the territory.
uncertain
Argentina → see → territory
The discovery of 900million barrels of oil within the Islands' exclusive economic zone has fuelled the country's latest bid to regain 'Las Malvinas'.
asserted
discovery → fuel → Malvinas
Argentine president Javier Milei has insisted he will 'act swiftly' to 'recover' the islands, which he claims belong to his country by law and historical precedent.
uncertain
he → insist → law
Corporation tax revenues and royalties from the Sea Lion field, which is expected to start pumping oil in 2028, are expected to transform the islands' economy.
asserted
which → expect → economy
The project could generate £4billion in revenue over 35 years, the equivalent of around £1million per islander.
uncertain
project → generate → islander
The islands' government has also pledged to contribute to its own security costs from the windfall, thereby reducing the £500million Britain spends each year to protect the Overseas Territory.
asserted
Britain → pledge → Territory
The territory's gross domestic product is predicted to triple, hundreds of jobs will be created, and it will become energy self-sufficient.
asserted
it → predict → jobs
But as it stands, Argentina will gain nothing and this has triggered fury in Buenos Aires, with Mr Milei saying he 'will not allow it' to happen.
asserted
it → stand → Aires
The Sea Lion field 150 miles north of Port Stanley was discovered in 2010 but multiple projects to extract the oil have failed.
asserted
projects → discover → oil
Argentine president Javier Milei has insisted he will 'act swiftly' to 'recover' the Falkland Islands, which he claims belong to Argentina by law and historical precedent
Major oil companies have also been dissuaded from investing in recent years due to the geopolitical complications.
The project is vulnerable to Argentine interference – as demonstrated yesterday when the share prices of the UK and Israeli companies leading the project fell following Mr Milei's statements.
uncertain
prices → insist → statements
The Falkland Islands government, which approved exploration in 2024, will pocket 9 per cent of oil revenues, plus 26 per cent corporation tax on profits.
asserted
which → approve → profits
Twenty-three wells will be built with the creation of 200 jobs at sea and on the islands.
asserted
wells → build → islands
Oil workers will be helicoptered to the rigs and a major hotel will be built.
asserted
hotel → helicoptere → rigs
The Argentine government has responded by announcing sanctions against Israeli oil company Navitas Petroleum, which has a 65 per cent share of the project, and UK exploration company Rockhopper, which has a 35 per cent share.
asserted
which → respond → share
Their stocks fell by 10 per cent in response to the move.
asserted
stocks → fall → move
When oil was struck in 2010, then Argentine president Cristina Fernandez de Kirchner called the British 'robbers' and introduced a law that any Argentine companies involved in the project would face criminal charges.
asserted
companies → strike → charges
She referred to the 'extraction of Argentine resources' and declared the country's claim to the Islands was 'inalienable'.
uncertain
claim → refer → Islands
She also took measures to isolate the Falklands economically.
asserted
She → take → Falklands
Jack Ford, chairman of the islands' legislative assembly, said the Sea Lion project 'presents enormous economic opportunities', adding: 'We're already seeing the benefit across parts of the UK in the creation of jobs, but the great benefit is to help provide economic security for the Falklands for generations to come.'
A joint statement by Rockhopper and Navitas said: 'The partnership operates pursuant to valid petroleum licences lawfully granted to it by the Falkland Islands government, a self-governing UK Overseas Territory and with the full and ongoing support of the UK Government.'
Tory energy spokesman Andrew Bowie said Argentina's claims should be rejected, adding: 'Of course it is right that the Falklands should be able to benefit from the riches in their waters.
uncertain
Falklands → say → waters
I just wish the UK Government would allow our domestic industry to do the same.'
asserted
industry → wish → same
