Argentina is preparing to commence exploratory drilling in the South Atlantic's Falkland Basin just over a year after British supported exploratory drilling began in the disputed area.
Argentina's President Cristina Fernandez de Kirchner advised through aides that the exploration operation will begin in December and intends to increase its military presence in the area with naval reinforcements to provide security for the upcoming drilling activities, since it sees the British Navy's presence in the area as "neo-colonialism" and "occupation" by a foreign power, while the UK justifies its presence as protective of British sovereignty over the Falkland Islands as a British Overseas Territory.
The site of the initial well or wells is said to be about halfway between the Malvinas, as the Falkland Islands are known in Argentina, and Tierra del Fuego. To that end, the government has contracted a semisubmersible drilling rig from Swedish company Stensa that is capable of operating in South Atlantic weather conditions. Built to stand ten-meter waves, it is dynamically positioned and has four independent turbines. It will be operating in waters 1,500 meters in depth and will be drilling to a total depth said to exceed 9,843 ft. The drillsite will be the southernmost location of exploratory drilling in Argentina.
Reportedly, Argentina intends to commence its exploration with one or more wells to be drilled by a consortium that includes Yacimientos Petroliferos Fiscales (YPF) de Argentina, a subsidiary of Repsol: Pan American Energy, a joint venture of BP (60%) and Bridas (40%); and Petroleo Brasileiro (Petrobras).
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