Falklands plans for oil future, Monday begins Economic Development Forum
From left to right: Targ Patience, Dr. Genève Phillip-Durham and Kathy Smith
As of Monday April 6th the Falkland Islands will become a hub of conferences and workshops with the inauguration of the 2026 Economic Development Forum, prepared by the Falklands Chamber of Commerce and presented by the Falklands Development Corporation, FIDC, which will be looking ahead to the challenges from the oil and telecommunications industries and their transformative dynamics into the future.
The Falkland Islands is poised to become an oil economy, the result of the forthcoming Sea Lion Island project that will sustain for the next 30-40 years, pumping billions into the economy. This massive economic shock will be commensurate with the improvement to telecommunications and opening up the economy to whole new industries previously impossible to operate in this part of the world.
FIDC will see the second Economic Development Forum bring together a group of experts to workshop alongside the entire Falkland Islands public and private sectors, and consider what the future holds for the Falkland Islands and the industries of oil/hydrocarbons, telecommunications, and environmental conservation/sustainability.
This event follows on the inaugural Economic Development Forum, last year, which focused on traditional industries of agriculture (wool), maritime, and tourism.
The distinguished experts, and their very rich experiences and academic backgrounds, all of them from British Overseas Territories, include Mrs. Kathy Smith current President of the Georgetown Chamber of Commerce and Industry, (Guyana, ex British Guiana); Dr. Genève Phillip-Durham, Principal Consultant of R.E.A.C.H., Global Consultant, and Targ Patience is the current Chair of the Gibraltar Association for New Technologies, GANT.
With the exception of Monday, exclusive for Chamber of Commerce, attendance is free, and open to public. The schedule of a very promising week is as follows:
| Date | Event | Location | Time |
|---|---|---|---|
| Monday 6th April | Exclusive Chamber of Commerce Engagement | Falkland Islands Chamber of Commerce | 17:00 – 19:00 |
| Tuesday 7th April | Economic Development Forum | Harbour Lights Cinema & Events Room | 09:00 – 17:30 |
| Wednesday 8th April | Conservation / Sustainability Workshop | Harbour Lights Cinema Events Room | 09:30 – 13:00 |
| Thursday 9th April | Telecommunications Workshop | Harbour Lights Cinema Events Room | 09:30 – 13:00 |
| Friday 10th April | Oil / Hydrocarbons Workshop | Harbour Lights Cinema Events Room | 09:30 – 13:00 |
Day 2 Tuesday 7th April 2026
9:00 – 9:30 FIDC Welcoming Remarks / Presentation
9:30 – 10:00 FIG State of the Economy
10:00 – 10:30 Break
10:30 – 12:00 Kathy Smith, President of the Georgetown
Chamber of Commerce and Industry
12:00 – 13:00 Lunch
13:00 – 14:30 Genève Phillip-Durham, Principal Consultant of
R.E.A.C.H. Global Consulting
14:30 – 15:00 Break
15:00 – 16:30 Targ Patience, Chair of the Gibraltar Association for New Technologies
16:30 – 17:30 Audience / Speaker Meet & Greet
WORKSHOPS
Day 3 Wednesday 8th April 2026, Conservation / Sustainability Workshop Led by Genève Phillip-Durham, Principal Consultant of R.E.A.C.H. Global Consulting
9:30 – 10:00 Welcome Remarks / Scene Setting
10:00 – 12:00 Conservation / Sustainability Workshop
12:00 – 13:00 Lunch
Day 4 Thursday 9th April 2026, Telecommunications Workshop
Led by Mr. Targ Patience, Chair of the Gibraltar Association for New Technologies
9:30 – 10:00 Welcome Remarks / Scene Setting
10:00 – 12:00 Telecommunications Workshop
12:00 – 13:00 Lunch
Day 5 Friday 10th April 2026, Oil / Hydrocarbons Workshop
Led by Kathy Smith, President of the Georgetown Chamber of Commerce and Industry
9:30 – 10:00 Welcome Remarks / Scene Setting
10:00 – 12:00 Oil / Hydrocarbons Workshop
12:00 – 13:00 Lunch
Further background on experts,
Mrs. Kathy Smith is the first woman President Georgetown Chamber of Commerce and Industry (GCCI). She previously served as the Senior Vice President, Secretary, and she was the Chairperson of the Chamber’s Petroleum Committee as well as the Human Resource Management and Capacity Building Committee. Mrs. Smith is the Managing Director of Dynotech Construction Chemicals.
According to FIDC, in 2015 ExxonMobil discovered oil reserves potentially worth more than$100bn (£80bn) – a find big enough to economically transform the South American country of fewer than one (1) million people. Since then, Guyana has emerged as a significant contributor to growth in the global supply of crude oil, making it the third-fastest growing non-OPEC producing country. In 2022, Guyana’s GDP grew by 62 percent (%), the highest real GDP growth in the world that year.
Mrs Smith will be able to offer insights into the rapid transformation of her country’s economy and the lessons that the Falklands can learn in anticipation of the development of the Sea Lion Project.
Dr. Genève Phillip-Durham is a political scientist, policy consultant, and academic leader specializing in governance, institutional capacity building, and sustainable development in small island contexts. She holds a BSc in Public Sector Management, a Postgraduate Diploma in International Relations, an MSc in Global Studies, and a PhD in International Relations.
According to FIDC with more than 15 years of experience across Caribbean and international policy spaces, she has held senior academic, administrative, and advisory roles in the public, private, and multilateral sectors. She is Principal Consultant of R.E.A.C.H. Global Consulting, advising on policy, governance, institutional strengthening, and development strategy. Dr. Phillip-Durham has served as Dean of Humanities and Social Sciences at the University College of the Cayman Islands, Dean of Academics at the University of St. Martin, and Lecturer in International Relations at the University of the West Indies.
She has also consulted for organizations including UN Women, the United Nations Development Program (UNDP), and the Inter-American Development Bank (IDB).
A recognized voice in Caribbean public policy and island studies, she serves as Associate Editor of the Island Studies Journal and Deputy Editor-in-Chief of the Journal of Island and Marine Studies, and has published widely on governance, climate resilience, economic diversification, artificial intelligence, and development pathways for small island developing states.
Targ Patience is the current Chair of the Gibraltar Association for New Technologies (GANT), which aims to foster cooperation between members of the association, and stimulate the interest and participation of the new technology industries, including Gibraltar’s block-chain, financial technologies (fintech), and distributed ledger technologies.
According to FIDC, Additionally, Mr. Patience is a regulatory specialist and expert, having previously led a compliance and regulatory consultancy company in London focused on assisting financial institutions. Mr. Patience currently sits on the Gibraltar Financial Services Resolution and Compensation Committee (FSRCC).
Mr. Patience is expert on how technological advances play transformational roles for societies, especially U.K. Overseas Territories.
