SLB withdraws from oil bidding processes linked to the Falkland Islands

SLB announced that it does not participate nor has plans to intervene in bidding processes aimed at contracting services for hydrocarbon projects in the Falkland Islands and the maritime spaces surrounding them. The position was communicated by its Argentine subsidiary on September 4, 2026.

The company, formerly known as Schlumberger, linked its decision to Executive Decree 868/26 issued by the National Government. In its statement, it also reaffirmed that it will act in accordance with current regulations, although it did not provide details on potential processes, operators, or specific contracts.

The announcement came following statements by President Javier Milei regarding progress on the Sea Lion project, aimed at oil exploitation on the islands without Argentine authorization. The Government also informed Congress of the submission of a draft law on the defense of national sovereignty.

In parallel, the Foreign Ministry initiated sanctioning procedures against 45 individuals and companies that, according to official communication, would be related to exploration and exploitation activities of hydrocarbons in the Falkland Islands. The announced scope includes both direct participants and shareholders and service providers.

SLB is an international technology and services company for the oil and gas industry, with operations in more than 100 countries. Its activities include drilling solutions, production, digital tools, decarbonization, and new energy systems.

The company's position occurs in a context of increased oversight over the supply chain associated with projects in the disputed area. The company did not report potential commercial effects derived from its decision nor specified whether the measure extends to other types of activities.

Information from Mejor Energía.