Argentina has initiated legal action against two U.S. and three British companies for drilling oil near the Falkland Islands.

Argentina's minister for the islands, Daniel Filmus, announced the case in London.

The companies involved in the legal dispute are Falkland Oil and Gas, Premier Oil, Rockhopper, Edison International, and Noble Energy. As reported by the BBC Filmus said the companies were "performing illegal acts by entering Argentine territory."

"I want to make it clear for the directors of these companies and for British public opinion that Argentina will use the full force of the law -- both national and international law - to prevent these countries from taking the riches which belong to 40 million Argentine citizens,” said Filmus.

"Argentina has extradition treaties around the world and we intend to use them," emphasized the Argentine politician and academic.

To enforce his country’s stance, Filmus noted that the area being drilled was "as much ours as the centre of Buenos Aires. Neither the U.K. nor any other country would allow anyone to enter their territory and take away their riches."

Philip Hammond, the U.K. Foreign Secretary, responded to Filmus’ remarks by accusing the Argentines of what he called "outrageous bullying."

As Hammond explained, the islanders had a "perfect right to develop their own economic resources and Argentina needs to stop this kind of behaviour and start acting like a responsible member of the international community."

The Falklands Islands government has stated that the Latin American country has no case, maintaining, “We have the right to develop our economy, including the hydrocarbons industry, and we are exercising that right."

The island authorities argued further that, in fact, it was Argentina that walked away from working with the Falkland Islands on the development of a hydrocarbons industry years back. Malcolm Bracken at Redmayne Bentley told the BBC that the Argentines will lose their case, saying, "They have no jurisdiction -- the U.N. settled the matter in 1982."