SLB Withdraws from Sea Lion Project in Falkland Islands Over Decree 868/26

SLB, one of the world's leading oilfield services companies, confirmed that it will not participate in the Sea Lion project, planned in the Falkland Islands.

The company stated that its decision responds to the need to comply with Decree 868/26, a regulation that establishes new conditions for company participation in certain hydrocarbon activities.

Among its provisions, the decree contemplates disqualification sanctions of up to 20 years for those who fail to comply with its requirements. It also establishes the submission of a sworn declaration of sovereignty as a prerequisite for operating in Vaca Muerta or accessing the Regime for Large Investments (RIGI).

SLB's exit occurs within the framework of the Sea Lion development, an exploration and production project for hydrocarbons in Falkland Islands waters. The company provided no further details regarding the operational scope of its withdrawal.

With information from EconoJournal.