SLB, one of the leading global oilfield services companies, has declared that it will not participate in projects in the Falkland Islands, following announcements made by President Javier Milei and the corresponding decree published in the Official Gazette.
The company, in a statement, indicated that “in accordance with Decree 868/26 of the National Executive Power, it informs that it is not participating and has no plans to participate in bidding processes for services related to hydrocarbon projects in the Falkland Islands, as well as in the surrounding maritime spaces.” This statement reaffirms SLB’s commitment to compliance with current regulations.
SLB is characterized as “a global technology company that drives energy innovation for a balanced planet” and has a presence in over 100 countries, providing digital and technological solutions in the oil and gas sector. Additionally, it has maintained a cautious stance regarding the Sea Lion project, which involves the Israeli company Navitas Petroleum and the British company Rockhopper Exploration, both of which have stated they will continue with their schedule despite Argentine sanctions.
Decree 868/2026 establishes a series of restrictions for those conducting activities in Argentina, prohibiting not only direct or indirect participation in unauthorized projects on the continental shelf but also various related transactions and services.
SLB, which has significant projects in Argentina, confirmed that its priority is to continue developing these same projects. Recently, in March 2026, the company signed an agreement with YPF to train workers in unconventional operations. Furthermore, in June 2024, SLB announced the continuation of its collaboration with Vista Energy in Vaca Muerta, underscoring its focus on the development of energy resources in the region.
Founded in 1926 by brothers Conrad and Marcel Schlumberger in France, the company has evolved to become one of the largest global oilfield services firms. In 2022, it changed its name to SLB, reflecting its expanded focus on energy technologies, including carbon capture and geothermal energy. The figure of Miguel Galuccio, significant in the recent history of Argentine oil, is highlighted by his career in the company and his subsequent role as CEO of YPF and founder of Vista Energy.
Source: www.infobae.com
