"The Argentinian government has dramatically increased the pressure on British companies drilling for oil off the disputed Falkland Islands by passing laws that could impose 15-year jail sentences on their executives.
A statement provided by the Argentinian embassy in London said "the law provides for prison sentences for the duration of up to 15 years; fines equivalent to the value of 1.5m barrels of oil; the banning of individuals and companies from operating in Argentina; and the confiscation of equipment and any hydrocarbons that would have been illegally extracted".
The Falklands have been at the centre of a sovereignty dispute between Britain and Argentina for almost 200 years, with the two countries going to war in 1982.
A statement provided by the Argentinian embassy in London said "the law provides for prison sentences for the duration of up to 15 years; fines equivalent to the value of 1.5m barrels of oil; the banning of individuals and companies from operating in Argentina; and the confiscation of equipment and any hydrocarbons that would have been illegally extracted".
The Falklands have been at the centre of a sovereignty dispute between Britain and Argentina for almost 200 years, with the two countries going to war in 1982.
But the Falklands row has been exacerbated by Premier moving towards the first oil development project – known as Sea Lion.
The independent oil and gas company has said it hoped to extract 284m barrels of oil from the north part of the field before moving on to get a further 110m barrels from the south.
Most of the oil "majors" such as BP have so far steered clear of the area fearing it could jeopardise their chances of working on the mainland".
Source: theguardian
