Onshore, there is hope gold will be found. Falkland Gold and Minerals(FGML), which has the licence to explore, started drilling in 2005.
Geologist Mark McCulloch said the peaty landscape was challenging: "It's like a carpet, so what we are looking for is a bit of a needle in a haystack."
A subsidiary of the Falkland Islands Company, a dominant force there since the 19th Century, recently sold its 14% stake in FGML.
"It could be egg on their face, it could be a good move. No-one knows."