Argentina Orders Criminal Complaint Against Israeli Energy Company Over Falkland Islands Drilling

Argentina’s government announced today (Monday) that it will file criminal charges against the Israeli energy company Navitas Petroleum and its executives over their activities in the Falkland Islands.

According to local media reports, Argentine President Javier Milei vowed on Friday to impose sanctions on oil companies drilling in British territory over which Argentina claims ownership and sovereignty.

At Milei’s direction, Foreign Minister Pablo Quirno filed the criminal complaint against several Navitas subsidiaries and partners operating in the area, along with their executives. The Argentine government claims that the companies violated Argentine law by holding licenses for hydrocarbon exploration and extraction issued by Britain in the North Falkland Basin.

As a reminder, Argentina has claimed ownership of the Falkland Islands for decades. The island group is located about 500 kilometers off the country’s western coast. All the residents on the island support British control of the area.

The oil project on the islands is managed by the Sea Lion company, operated by Navitas Petroleum, which is traded in Tel Aviv and holds 65% of the project. Gideon Tadmor, the company's chairman and a prominent figure in Israel’s energy industry, holds about 9% of Navitas shares. The remaining 35% of the project is owned by Rockhopper Exploration, which is traded in London. Its five largest shareholders include Israeli funds, Noked Capital, Brosh Funds, and ION Fund Management, each holding between 4.6% and 9.2%.

In an official statement, Navitas said that the partnership operates under oil licenses lawfully granted to it by the government of the Falkland Islands, a self-governing British territory, with the ongoing backing of the British government.