Falkland Islands Receives Initial Deposit for SWF
The government of the Falkland Islands has made an initial transfer of £8.274 million to the new Oil Development Reserve. This first deposit is their goal towards emulating a sovereign wealth fund based on the Norwegian model.
Oil exploration firms are aiming at 8.3 billion barrels in the area around the Falkland Islands. The region is underexplored but could yield high-impact wells.