Falklands releases the socio-economic impact of oil and gas development in the Islands

[Tom Kirkman + 8,860]

A *holistic* approach to developing oil & gas natural resources.  Good idea.  Hope other countries try out this holistic planning.

Falklands releases the socio-economic impact of oil and gas development in the Islands

The report examines the potential social impacts of development as well as the effects on public revenues, and puts forward an impacts monitoring program

The socio-economic impact of oil and gas development in the Falkland Islands has been the subject of a Government report. This is in anticipation of significant economic activity that will be generated by the potential development of the Sea Lion oilfield as well as planned capital projects.

This detailed analysis by the FIG Policy Department of the potential population, employment and socio-economic effects of growth, is described as an update and improvement on the model developed for FIG in 2015, and is said to reflect more closely the structure of the Falkland Islands’ economy.

Policy & Economic Development director Andrew Gaule said the report considered the combined effects of not only potential hydrocarbon development but also of expected infrastructure development over a period of years up to 2035.

He said it analyses a wide range of issues including not only overall population growth but also the different effects on the labor market in sectors such as agriculture, fisheries, tourism and government.

The report also examines the potential social impacts of development as well as the effects on public revenues – and puts forward an impacts monitoring program that was accepted by ExCo and that would be implemented prior to the actual start of any oil development activities.

The report, which was considered by ExCo in October 2019, highlights both the challenges and opportunities of growth. All government departments were asked to consider how their services will be affected, and the resulting report illustrates how the expected population and employment impacts can be managed by the Falkland Islands to ensure appropriate service levels are maintained.  ...

 

... The report also pays attention to what changes could mean for the people who live here and how they might affect the social and cultural cohesion of our society.”

 

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Full report:

http://www.falklands.gov.fk/assets/Falklands-Oil-and-Gas-Socio-Economic-Study-Final-Report.pdf

 

[James Regan + 1,776]

MOD will most definitely be a big part of this infrastructure, IMO this already has a similar model that being the Shetland Islands, just add a oil refinery and pipeline up the Atlantic Ocean to Britain 🇬🇧 Don’t think any pipelines heading to Argentina 🇦🇷.