Monday, January 23, 2012
US energy giant to invest in UK's oil rush in Malvinas
Amidst the escalated diplomatic tension between Argentina and the United Kingdom, today’s edition of British sensationalist newspaper The Sun assures that US energy giant Anadarko made an offer to develop oil rush in the Malvinas Islands.
The tabloid indicates that “Four executives from Houston-based Anadarko flew to Port Stanley last Wednesday to meet with Rockhopper, a UK explorer that's struck 700 million barrels of oil off the Malvinas' north coast.”
Sources to the English newspaper claimed that Anadarko “made a provisional offer” to invest in Rockhopper's mammoth discovery and develop it, and a “deal has been tabled.”
The article indicates that “Anadarko has got approval to do this from the highest levels in the US, and they've been reassured the British will stand by the islands.”
The US giant's board of directors include Kevin Chilton - a former commander of US Strategic Command, and Preston M. Geren III -who was in the US Department of Defence for much of the last decade.
If the deal goes ahead, American involvement would be a hammer blow to Argentina, a huge coup for David Cameron and change the lives of the 3,000 islanders.
Argentine president Cristina Fernández Kirchner has been outraged by the British oil campaign in the Falklands - restating Argentina's rights to the South Atlantic archipelago.
In a show of solidarity most South American countries have now banned ships doing work in the Malvinas from docking at their ports.
UK Prime Minister David Cameron blasted Buenos Aires last week for "colonialism".
The support of Anadarko would be tacit approval to UK sovereignty and complete the Malvinas' switch from farming outpost to the latest frontier in the world's multibillion-dollar oil industry.
No major discovery had been made in the region before Rockhopper's "Sea Lion" discovery 100km to the north of the islands in mid-2010.
Since then it claims to have also discovered a gas field and a smaller oil field.
Despite the war of words with Argentina, six energy companies have approached Rockhopper as it wants to bring in a partner by the end of March to develop its Sea Lion discovery and pump millions of barrels to the surface.
Two are British, Cairn Energy and Premier Oil, the rest are also American, Hess, Noble and Murphy.
But Anadarko is by far the biggest - worth US$40 billion. It was a minority partner with BP on the disastrous Deepwater Horizon blast in the Gulf of Mexico.
Rockhopper last year said it needed to raise US$2 billion to develop its Sea Lion field.
It plans to bring the oil to the surface via a drilling rig on a tanker that would moor in the ocean. This would have the capacity to store up to 3 million barrels of crude.
A final decision on which partner Rockhopper chooses is likely in the next eight weeks.
The tabloid indicates that “Four executives from Houston-based Anadarko flew to Port Stanley last Wednesday to meet with Rockhopper, a UK explorer that's struck 700 million barrels of oil off the Malvinas' north coast.”
Sources to the English newspaper claimed that Anadarko “made a provisional offer” to invest in Rockhopper's mammoth discovery and develop it, and a “deal has been tabled.”
The article indicates that “Anadarko has got approval to do this from the highest levels in the US, and they've been reassured the British will stand by the islands.”
The US giant's board of directors include Kevin Chilton - a former commander of US Strategic Command, and Preston M. Geren III -who was in the US Department of Defence for much of the last decade.
If the deal goes ahead, American involvement would be a hammer blow to Argentina, a huge coup for David Cameron and change the lives of the 3,000 islanders.
Argentine president Cristina Fernández Kirchner has been outraged by the British oil campaign in the Falklands - restating Argentina's rights to the South Atlantic archipelago.
In a show of solidarity most South American countries have now banned ships doing work in the Malvinas from docking at their ports.
UK Prime Minister David Cameron blasted Buenos Aires last week for "colonialism".
The support of Anadarko would be tacit approval to UK sovereignty and complete the Malvinas' switch from farming outpost to the latest frontier in the world's multibillion-dollar oil industry.
No major discovery had been made in the region before Rockhopper's "Sea Lion" discovery 100km to the north of the islands in mid-2010.
Since then it claims to have also discovered a gas field and a smaller oil field.
Despite the war of words with Argentina, six energy companies have approached Rockhopper as it wants to bring in a partner by the end of March to develop its Sea Lion discovery and pump millions of barrels to the surface.
Two are British, Cairn Energy and Premier Oil, the rest are also American, Hess, Noble and Murphy.
But Anadarko is by far the biggest - worth US$40 billion. It was a minority partner with BP on the disastrous Deepwater Horizon blast in the Gulf of Mexico.
Rockhopper last year said it needed to raise US$2 billion to develop its Sea Lion field.
It plans to bring the oil to the surface via a drilling rig on a tanker that would moor in the ocean. This would have the capacity to store up to 3 million barrels of crude.
A final decision on which partner Rockhopper chooses is likely in the next eight weeks.
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