Drilling for oil to start in Falkland Islands

[Mugu]

By Jasper Copping

The inhabitants of the Falkland Islands are preparing for a South Atlantic oil rush which they hope will make them among the richest people in the world.

After 10 years of frustrating delays since oil fields containing up to 60 billion barrels of "black gold" were discovered off the islands, oil companies are planning to start drilling within the next 12 months.

The move follows the conclusion of lengthy, but successful, tests by geologists and significant cash injections by two major oil companies which plan to bring rigs to the islands by as early as autumn.

The companies with licences to drill in the area met in Edinburgh on Friday to brief officials from the Falklands' government on their progress, and preparations are under way in the South Atlantic to ensure that the islands can cope with sudden wealth.


Complete article at:
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/03/09/wfalk109.xml

[MaryCeleste]

1. Argentina will not be happy

If they try a repeat of the last time, it could end very differently. They lack the navy to protect the Falklands and would have to use weapons like sub launched Tomahawks on Argentinian ports to protect them.