29th Jun 2015 09:12
LONDON (Alliance News) - A judge in Argentina has ordered the seizure of assets belonging to five companies drilling for oil in the Falkland Islands, the BBC reported Monday.
FTSE 250-listed Premier Oil PLC, Rockhopper Exploration PLC, Falkland Oil and Gas Ltd, Noble Energy Inc and Edison International Spa are the companies being targeted by the legal action.
The three UK-listed companies have a joint venture offshore the Islands and have made oil discoveries at numerous wells since beginning drilling in 2010.
In April, Premier, Rockhopper and Falkland Oil's drilling of the Isobel deep well was marred by a speech to mark the 33rd anniversary of the Falklands conflict by the Argentinian President Cristina Fernandez de Kirchner, who threatened the UK companies with court action which could lead to arrest warrants being issued on the grounds of illegally operating in Argentine waters.
That threat came after the British government announced plans to spend GBP280 million over the next 10 years on renewing and strengthening Falklands forces.
The oil companies named in the case are not based in Argentina, and it is not clear how the measure will be implemented, said the BBC Monday.
http://www.bbc.co.uk/news/world-latin-america-33301540
By Joshua Warner; [email protected]; @JoshAlliance
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