Exxon Mobil to Sell Argentina's Vaca Muerta Assets to Pluspetrol
11/5/2024
(Reuters) — U.S. energy giant Exxon Mobil agreed on the terms and conditions to sell its oil and gas assets in Argentina's Vaca Muerta formation to Pluspetrol, a source at Exxon Mobil said on Wednesday.
Exxon will sell five blocks in Argentina's western Neuquen province, home to Vaca Muerta, and its stake in Argentine oil pipeline operator Oleoductos del Valle (Oldelval), the source said.
The source declined to provide details on how much the deal is worth or when it would be finalized.
"We continue to work together with the buyer and the Neuquen government to achieve alignment on the desired results," the spokesperson added.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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