The American company Exxon Mobil has decided to sell its assets in Argentina, specifically in Vaca Muerta, and Pluspetrol was the awarded company in this transaction. Exxon Mobil divested 70% of the shares, while Qatar Energy retained the remaining 30%. The sale of these assets surprised the market by leaving Techint, Vista, YPF, and PAE out of the equation.
Pluspetrol, one of the main Argentine oil companies belonging to the Poli and Rey families, acquired the assets for a total of US$ 1.7 billion. The transaction was confirmed by Exxon Mobil in a statement indicating that the terms and conditions for the sale of Exxon Mobil Exploration Argentina in favor of Pluspetrol were agreed upon.
Among the sold areas, Bajo del Choique stands out, with proven shale oil reserves. It is mentioned that this decision was made in conjunction with the Exxon mergers and acquisitions team. The sale's approval also required the endorsement of Qatar Petroleum, the Qatari state-owned company that has owned 30% of Exxon Mobil in Argentina since 2018.
Exxon Mobil, with operations in 40 countries, seeks to expand its activities in the oil business. In contrast, Pluspetrol, which was selected as the buyer in this transaction, is preparing to face the challenges of acquiring and putting into operation the assets of the American giant in Vaca Muerta. This alignment process with the Neuquén government is underway.
On the other hand, Exxon Mobil has been making significant investments in different parts of the world, such as the United States and Guyana, where they are developing large-scale oil projects. The history of Exxon Mobil, founded by John Rockefeller in 1882, includes notable milestones in the oil industry, and now this sale in Argentina materializes as part of its global strategy.
