President Javier Milei’s decision to tighten sanctions against foreign companies operating in the Sea Lion exploration project around the Malvinas Islands has prompted some international oil companies to take a stance on the issue.
In recent days, SLB (formerly known as Schlumberger), Halliburton, and Baker Hughes announced that they do not plan to participate in the Sea Lion project and that they “conduct their operations in compliance with current regulations.”
According to experts, there is one key reason why these companies decided to publicly distance themselves from the South Atlantic venture: the enormous appeal of the Vaca Muerta field, which has been the focus of Argentina’s most significant investments in recent years.
Given its level of development and production potential, it represents a much more concrete business opportunity for foreign capital than the projects currently being carried out by Navitas Petroleum and Rockhopper Exploration.
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