More than 40 years after Britain and Argentina fought over the Falklands, another struggle is unfolding in the South Atlantic. This time the prize lies beneath the seabed.

It is called Sea Lion: an offshore oil development roughly 220 kilometres north of the Falklands. Its operator is Navitas Petroleum, an Israeli energy group listed in Tel Aviv, which holds 65% through a UK subsidiary. The remaining 35% belongs to Britain's Rockhopper Exploration.

In December 2025, the companies approved the project and secured its financing. Phase one will involve 11 subsea wells connected to a floating production vessel. The estimated funding requirement was US$1.8 billion to first oil and US$2.1 billion through completion. Production is targeted for 2028, with initial peak output of around 50,000 barrels a day.

This is no longer just a speculative exploration licence.

And the people behind it are worth examining.

Navitas chairman Gideon Tadmor is a major figure in Israeli energy. Before founding Navitas, he led companies involved in the Eastern Mediterranean's Tamar and Leviathan gas discoveries. That experience is now involved in a disputed corner of the South Atlantic.

But there is a distinction worth making: that history does NOT prove Falklands oil will flow into Israeli pipelines, or that the Eilat–Ashkelon / MED-RED oil corridor is part of this deal. No direct link has been established.

The politics are extraordinary. Argentina's President Javier Milei, publicly friendly towards Israel, is challenging a project with significant Israeli backing. In September 2026 he announced tougher measures against firms involved in Falklands oil development. Argentina also initiated international maritime arbitration against Britain. In October, Navitas said it was working to replace two contractors amid the pressure.

An Argentine court ordered a halt pending environmental review, but enforcement is uncertain and developers intend to continue.