In a strategic move, Exxon Mobil is reportedly evaluating offers for its Argentine shale assets, with a potential sale valued at approximately US$1 billion.
The assets include stakes in seven oil-and-gas blocks within the renowned Vaca Muerta formation in Patagonia, as well as interests in a pipeline network.
Several bids were submitted for Exxon’s holdings in Argentina earlier this month, as revealed by sources familiar with the situation. The energy giant, in partnership with QatarEnergy, is aiming to divest its investments in the lucrative shale region.
The deliberation surrounding the potential sale signals Exxon’s intention to reposition its portfolio and potentially reallocate resources from its Argentine ventures. While the specifics of the offers remain undisclosed, the assets in question have been appraised at a significant sum.
The Vaca Muerta formation has long been regarded as a valuable energy asset, further underscoring the appeal of Exxon’s holdings in the region.
The outcome of Exxon’s decision to explore a sale could have implications for the energy landscape in Argentina and beyond.
As discussions continue, stakeholders await further developments regarding Exxon’s plans for its Argentina shale assets. The potential divestment represents a notable development in the realm of energy investments and stands to impact the industry’s dynamics in the foreseeable future.
batimes
