FALKLAND ISLANDS GOVERNMENT
PRESS STATEMENT
21 September 2026
FIG Announces Extension of Offshore Hydrocarbons Production Licences
The Falkland Islands Government is pleased to announce that it will be extending all existing offshore hydrocarbons production licences, a decision which has the full support of the UK Government. The licences, which are all currently in the exploration term, will be extended for an initial period of five years, with an optional two further years at the discretion of FIG, and subject to satisfactory progress by the licensees against their work programmes.
The Government has also approved the acquisition of a 65% stake in licence area PL001 by Navitas Petroleum Atlantic Limited. It is hoped that this will accelerate the assessment and development of the prospects in this block.
Portfolio holder for Trade, Industry, and Mineral Resources MLA Cheryl Roberts, said “these extensions provide security to operators, enabling them to continue to invest and develop their acreage. These are our resources to develop, and we will ensure they are developed responsibly, in line with best global practice with regards to environmental and safety standards, in order to deliver long-term benefits to current, and future generations of Falkland Islanders.”
The Department of Mineral Resources is now working with licensees to produce enhanced work programmes for the extension period, with the aim of gaining a better understanding of the potential for hydrocarbons development in Falkland Islands waters, and including commitments to the drilling of additional appraisal wells.
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ENDS