Name: Falkland Islands (Malvinas) upstream summary
Brand: Wood Mackenzie
SKU: 41301
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Author: Wood Mackenzie

Country Report 31 March 2025

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
            <p class="mega push--bottom store_landing__body">
                <div>
The Falkland Islands (known as Islas Malvinas in Spanish) is a self-governing British Overseas Territory located in the South Atlantic Ocean. There is no hydrocarbon production, but several oil and gas discoveries were made between 2010 and 2016. Exploratory efforts were led primarily by UK independents along with US-based Noble Energy. Given the Falkland Islands' remote location, collaboration was critical to secure equipment.The Sea Lion discovery was the first major find and will ...</div>
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        <div class="col small-12 medium-6 large-12">
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                <div class="col small-12 large-4 push--bottom">
                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive summary
    </li>

<li class="list__item-toggle font-semibold">
        Key facts
    </li>

<li class="list__item-toggle font-semibold">
        Location maps
    </li>

<li class="list__item-toggle font-semibold">
        Key companies
    </li>

<li class="list__item-toggle">
        <a href="#8c7efc07-df9f-4aa2-b3b2-519bf7abdf10" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="8c7efc07-df9f-4aa2-b3b2-519bf7abdf10" aria-expanded="false">
            Geology
        </a>
        <ul id="8c7efc07-df9f-4aa2-b3b2-519bf7abdf10" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Introduction
    </li>
    <li class="push-quarter--bottom">
        Regional geology
    </li>
    <li class="push-quarter--bottom">
        Southern basins
    </li>
    <li class="push-quarter--bottom">
        North Falkland basin
    </li>
    <li class="push-quarter--bottom">
        Structure
    </li>
    <li class="push-quarter--bottom">
        Stratigraphy
    </li>
    <li class="push-quarter--bottom">
        Falkland Plateau basin
    </li>
    <li class="push-quarter--bottom">
        South Falkland basin
    </li>

<li class="list__item-toggle">
        <a href="#47cb5bae-23cf-44b2-a41d-5f20581b06fc" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="47cb5bae-23cf-44b2-a41d-5f20581b06fc" aria-expanded="false">
            Exploration
        </a>
        <ul id="47cb5bae-23cf-44b2-a41d-5f20581b06fc" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Licensing
            <ul id="438239b9-e76a-4bf2-b307-1b1356778003" class="push-half--left">
                    <li class="push-quarter--bottom">
        North Falkland basin
    </li>
    <li class="push-quarter--bottom">
        Southern basins
    </li>
    <li class="push-quarter--bottom">
        Special Co-operation Area (SCA) abandoned in 2007
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Drilling
            <ul id="5e1c72e5-fc4b-4096-8086-7a52e61ce1d7" class="push-half--left">
                    <li class="push-quarter--bottom">
        Drilling activity
    </li>
    <li class="push-quarter--bottom">
        Early exploration
    </li>
    <li class="push-quarter--bottom">
        1998 drilling campaign
    </li>
    <li class="push-quarter--bottom">
        Southern basins
    </li>
    <li class="push-quarter--bottom">
        Argentine Malvinas basin
    </li>
    <li class="push-quarter--bottom">
        Recent exploration
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Reserves and resources
    </li>

<li class="list__item-toggle">
        <a href="#f1535fbf-b5dc-4239-8d22-e03741c8c9c6" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="f1535fbf-b5dc-4239-8d22-e03741c8c9c6" aria-expanded="false">
            Production
        </a>
        <ul id="f1535fbf-b5dc-4239-8d22-e03741c8c9c6" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Oil and gas
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#1c0acd2b-8e29-4d03-afed-fbf97b396efa" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="1c0acd2b-8e29-4d03-afed-fbf97b396efa" aria-expanded="false">
            Infrastructure
        </a>
        <ul id="1c0acd2b-8e29-4d03-afed-fbf97b396efa" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Introduction
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#0b4fb0c6-2be2-4c60-8b99-68e22dc1d605" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="0b4fb0c6-2be2-4c60-8b99-68e22dc1d605" aria-expanded="false">
            Policy and regulation
        </a>
        <ul id="0b4fb0c6-2be2-4c60-8b99-68e22dc1d605" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Key legislation
    </li>
    <li class="push-quarter--bottom">
        Regulatory body
    </li>
    <li class="push-quarter--bottom">
        State participation
    </li>
    <li class="push-quarter--bottom">
        International boundaries
    </li>
    <li class="push-quarter--bottom">
        Relations with Argentina
            <ul id="cbcf9231-0acb-458e-99f9-f82d331b4345" class="push-half--left">
                    <li class="push-quarter--bottom">
        Special Co-operation Area (SCA)
    </li>
    <li class="push-quarter--bottom">
        Dispute over ownership
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Licensing
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#ddc3ff2f-29a9-4889-82a5-f19a182d0185" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="ddc3ff2f-29a9-4889-82a5-f19a182d0185" aria-expanded="false">
            Fiscal terms
        </a>
        <ul id="ddc3ff2f-29a9-4889-82a5-f19a182d0185" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Overview
    </li>
    <li class="push-quarter--bottom">
        Upstream overview
            <ul id="121df44b-597c-4d5f-a020-af56b306970e" class="push-half--left">
                    <li class="push-quarter--bottom">
        Exploration licences
    </li>
    <li class="push-quarter--bottom">
        Production licences
    </li>
    <li class="push-quarter--bottom">
        Notable legislative amendments
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Mid/downstream overview
            <ul id="106cc450-bc65-4eed-a210-f8a1520e39cb" class="push-half--left">
                    <li class="push-quarter--bottom">
        Pipelines
    </li>
    <li class="push-quarter--bottom">
        Gas utilisation
    </li>

</ul>
    </li>
    <li class="push-quarter--bottom">
        Current fiscal terms
    </li>
    <li class="push-quarter--bottom">
        Production licences (open-door and competitive)
            <ul id="d9a32375-ba9b-4263-b613-3b5fbe7d5d4c" class="push-half--left">
                    <li class="push-quarter--bottom">
        State equity participation
    </li>
    <li class="push-quarter--bottom">
        Bonuses, rentals and fees
    </li>
    <li class="push-quarter--bottom">
        Indirect taxes
    </li>
    <li class="push-quarter--bottom">
        Royalty and other production taxes
    </li>
    <li class="push-quarter--bottom">
        Domestic market obligation (DMO)
    </li>
    <li class="push-quarter--bottom">
        Contractor revenue entitlement
    </li>
    <li class="push-quarter--bottom">
        Product pricing
    </li>
    <li class="push-quarter--bottom">
        Corporate (or petroleum) income tax
    </li>

<li>3 more item(s)...</li>
            </ul>
    </li>
    <li class="push-quarter--bottom">
        Sample cash flow
    </li>

</ul>
    </li>

</ul>

</div>
                <div class="col small-12 large-4 push--bottom">

<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Key facts: Table 1</li><li class="list__item push-quarter--bottom">Location maps: Image 1</li><li class="list__item push-quarter--bottom">Net Acreage 2025</li>
     </ul>
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            View more tables and charts in this report
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        <ul class="list list--bullets panel-toggle" id="0c52d06a2c0a4386a83542da6542081f">
            <li class="list__item push-quarter--bottom">Falkland/Malvinas Islands Basins</li><li class="list__item push-quarter--bottom">Fiscal terms: Table 2</li><li class="list__item push-quarter--bottom">GEM models</li><li class="list__item push-quarter--bottom">Blocks Awarded by Region</li><li class="list__item push-quarter--bottom">Map</li><li class="list__item push-quarter--bottom">Fiscal terms: Table 1</li>
        </ul>
        
    </div>

</div>

<div class="col small-12 large-4 push--bottom">
                    
<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Country Overview</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>10.13 MB</span>
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</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Country Overview</p>
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    <span>XLS</span>
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