Will this pissoff the Argentinians?

I see that "The inhabitants of the Falkland Islands are preparing for a South Atlantic oil rush which they hope will make them among the richest people in the world. After 10 years of frustrating delays since oil fields containing up to 60 billion barrels of "black gold" were discovered off the islands, oil companies are planning to start drilling within the next 12 months.

The move follows the conclusion of lengthy, but successful, tests by geologists and significant cash injections by two major oil companies which plan to bring rigs to the islands by as early as autumn....

The successful extraction of oil could bring billions of pounds to the 3,000 islanders, in a cash bonanza similar to that enjoyed by Gulf states after the development of oil fields there.

The Falklands' government will receive 26 per cent of the profits from companies ­drilling for oil, as well as nine per cent royalties on every barrel sold.

The Treasury has been eyeing up the expected revenues, but the Falklands' government insists it will not be able to "cut in" on any deal. The Falklanders do, however, want to contribute towards the cost of defending the islands."


And yes, here is comes... "Meanwhile the Argentine government, which still claims the "Malvinas", as it calls the islands, and their oil fields as its own, is also looking jealously at the situation.

A spokesman said: "We reaffirm our backing for the legitimate rights of the Argentine Republic in the sovereignty dispute with Great Britain regarding the issue of the Malvinas."

Buenos Aires has accused London and the Falklands of reneging on an agreement in 1995 to co-operate over exploring offshore reserves, and of resisting its attempts to open talks on the issue.

"The intransigence of Great Britain has not permitted that open and frank dialogue," the spokesman added."