Investors in firms looking for oil and gas in the disputed area, which include Rockhopper Exploration, Premier Oil, Falkland Oil Gas and Desire Petroleum, shrugged off the latest diplomatic row, despite the threat of jail sentences for executives.
The Argentine congress also agreed to levy £100million fines against firms engaged in “illegal exploration and exploitation” off the Falklands. A statement from the Argentinian embassy in London said “the law provides for prison sentences for the duration of up to 15 years; fines equivalent to the value of 1.5m barrels of oil; the banning of individuals and companies from operating in Argentina; and the confiscation of equipment and any hydrocarbons that would have been illegally extracted”.