2024-10-31 01:21:00
Exxon Mobil, the largest U.S. oil company, launched the sale process of the Vaca Muerta region more than a year ago Found buyer, Pluspetroltaking over the assets of the North American giant A shocking number: more than $1.7 billion.
ExxonMobil area ” loading=”lazy”/>
In early August last year, “RÍO NEGRO Daily” published that American companies A “strategic review” process has been initiated for its assetswhich will be analyzed at the Houston headquarters.
More than a year later, industry insiders confirmed to this media Completes the sale of its operating area in Vaca Muertaamong which, addedmaking it the third country with the most kilometers of concessions in the Neuquén capital’s shale formations.
According to the Econojornal website, Pluspetrol is a company controlled by local shareholders. Paid over US$1.7 billion to complete acquisition 70% of shares ExxonMobil Argentina Exploration Companyalthough Qatar Energy The remaining 30% will be retained.
The Texas-based company will therefore exit the local hydrocarbons industry, although not the country, as it will remain in Buenos Aires. Controls one of the region’s major data centers, where more than 400 people work.
Areas of potential for ExxonMobil’s Pluspetrol and Vaca Muerta
Of the areas now controlled by Pluspetrol, Bajo del Choique-La Invernada seemed to be the strongest until last year This is the only one in the north of the position that is in the stage of large-scale development.
Furthermore, they stand out Los Todos 2 Westthe United States maintains a 10% partnership with Gas y Petroleo del Neuquén (GyP); Los Alvins 1 South Tecpetrol and GyP are partners, both 10%. There is also Pampa de las Yeguas 1, where YPF owns 50% of the assets.
Exxon Mobil, criminal embargo, The deal does not include the Sierra Chata region, which will be negotiated separately, according to the aforementioned portal.
1730338785
#Pluspetrol #acquires #ExxonMobils #Vaca #Muerta #site #multimillion #dollar #deal
**Interview with Dr. Laura Moreno, Energy Analyst at the Global Energy Institute**
**Interviewer:** Thank you for joining us today, Dr. Moreno. Can you provide an overview of what led to Exxon Mobil’s decision to sell its Vaca Muerta assets?
**Dr. Moreno:** Thank you for having me. Exxon Mobil’s decision to initiate the sale process for its Vaca Muerta assets over a year ago can be attributed to several factors. Primarily, they were conducting a strategic review of their operations, which is not uncommon in the oil industry, particularly amidst fluctuating prices and changing energy dynamics. They likely assessed that divesting from Vaca Muerta would allow them to refocus their resources and capital on more profitable ventures elsewhere.
**Interviewer:** Pluspetrol has acquired these assets for over $1.7 billion. What does this signify for the local economy and the energy market in Argentina?
**Dr. Moreno:** This acquisition by Pluspetrol is a significant milestone for the local economy. It not only affirms the strength and growth potential of Argentina’s energy sector but also reflects the increasing involvement of local firms in major developments. With Pluspetrol controlling 70% of the ExxonMobil Argentina Exploration Company, this move could lead to more localized decision-making and investments that align better with Argentine objectives. Moreover, it positions Pluspetrol as a stronger player in the global energy market, particularly in shale formations.
**Interviewer:** With Exxon exiting the local hydrocarbons industry, albeit maintaining a presence in Buenos Aires, what does this mean for their investment strategy in the region?
**Dr. Moreno:** Exxon’s exit from Vaca Muerta marks a strategic shift rather than a full withdrawal from Argentina. By retaining operations in Buenos Aires, they are still grounded in the market, focusing on other business avenues like their major data center. This reflects a broader trend where companies are pivoting toward more sustainable and technology-driven approaches while still recognizing the importance of their legacy fossil fuel operations. They could leverage their expertise in data and technology to pursue energy transition initiatives, which are becoming increasingly crucial given the global shift towards renewable energy sources.
**Interviewer:** what should we watch for in the coming months related to this sale?
**Dr. Moreno:** I think it will be important to monitor how Pluspetrol integrates the acquired assets and whether they can enhance production efficiency in Vaca Muerta. The company has the opportunity to capitalize on the experience from Exxon while also fostering local talent and knowledge. Additionally, it will be interesting to see if other international firms take this transaction as a cue to either invest in Argentine shale or reassess their commitment, based on the outcomes of this sale. this is a pivotal moment for Argentina’s energy landscape that could influence future investments and policies.
