Falklands offshore development depends on access and energy prices

What determines whether offshore oil and gas around the Falkland Islands will be developed?

Development waits on extraction economics: depth, access, and high enough energy prices to justify rigs and tankers.

Substantial oil and gas resources around the Falklands have already been surveyed and their locations are known. The obstacle is the depth and cost of reaching them rather than simple discovery. Developers therefore watch fossil-fuel prices for the point at which extraction becomes financially viable. If that threshold is crossed, the project would also require offshore rigs and the tankers needed to move the output.