Survey says oil in Falklands

THE FALKLAND Islands could be sitting on a multi-billion pound oilfield 50 per cent bigger than the British sector of the North Sea.

Initial studies by the British Geological Survey in a 200-mile exploration zone around the islands show that there is potential to turn the Falklands into one of the world's largest oil producers within about 10 years.

Such wealth would transform the islands and the lives of the 2,120 inhabitants beyond recognition. Families are being sent discussion documents detailing preliminary findings.

A spokesman for the survey said: 'The potential is good . . . But we will not know exactly how much oil is there until someone starts digging.'

Britain has gained pounds 50bn from North Sea oil since 1975 and there is thought to be about 30 years of production left.