Argentina to file criminal charges against Navitas Petroleum over Falklands drilling

A bust of former British Prime Minister Margaret Thatcher stands near a memorial to British soldiers who fought in the 1982 Falklands War between Britain and Argentina in Stanley on the Falkland Islands, also known as Islas Malvinas, Friday, March 20, 2026. (AP Photo/Ricardo Mazalan)

Argentina’s government said on Monday it will file criminal charges against energy company Navitas Petroleum and its executives for operating in the Falkland Islands.

The move follows remarks on Friday by Argentine President Javier Milei, who vowed to sanction oil companies drilling in the British overseas territory as he stepped up the South American nation’s sovereignty claims.

According to a statement from the presidency, Foreign Minister Pablo Quirno will file the criminal complaint against several Navitas subsidiaries and partners operating in the territory, along with their corporate directors.

Navitas did not immediately reply to a request for comment.

The government alleges the firms violated Argentine law by holding hydrocarbon exploration and exploitation licenses issued by the United Kingdom in the North Falkland Basin.

Milei last week singled out the Sea Lion offshore oil project as he announced measures targeting companies involved in Falklands oil and gas activities, with penalties potentially extending to shareholders, directors, and suppliers.

The Sea Lion field is operated by Tel Aviv-listed Navitas Petroleum, which holds a 65 per cent stake. London-listed Rockhopper, also backed by Israeli investors, owns the remainder.

First oil from Sea Lion is expected in 2028, when Phase 1, which Rockhopper and Navitas approved for development last year, comes on stream at a rate of 50,000 barrels per day.

A Rockhopper spokesperson declined to comment on Argentina’s latest statements on Sea Lion and referred questions to Navitas.

The companies have previously said the project holds valid licences from the self-governing Falkland Islands and that they do not expect Milei’s comments to have a material impact on its development. They have also pointed to U.K. support for the project.

Gideon Tadmor, a prominent figure in Israel’s energy sector and the company’s chairman, holds about nine per cent of its shares, according to LSEG data.

Reporting by Nicolas Misculin. Additional reporting by Shadia Nasralla in London. Editing by Daina Beth Solomon and Mark Potter