Equinor has entered into an agreement with Vista Energy to sell all of its onshore assets in Argentina. The sale includes a 30% non-operated interest in Bandurria Sur and a 50% non-operated interest in Bajo del Toro in the Vaca Muerta basin. Equinor's offshore assets in Argentina are not included in the transaction, the company said in a press release.
The total transaction is valued at approximately USD 1.1 billion. Equinor will receive a cash payment of USD 550 million and shares in Vista Energy. The agreement also includes contingent payments that depend on production and oil prices over a five-year period. The transaction is effective on July 1, 2025.
- We are realizing the value of two assets that we have been actively developing, while continuing to target our international portfolio, says Philippe Mathieu, CEO of Exploration & Production International at Equinor.
Bandurria Sur is already in production, and Equinor's share in the third quarter of 2025 averaged 24,400 barrels of oil equivalent per day. Bajo del Toro remains in early development and delivered 2,100 net barrels of oil equivalent per day during the same period.
Equinor's international portfolio is expected to increase both production and cash flow through to 2030, driven by core positions in Brazil, the US and the UK. The company has been present in Argentina since 2017 and expanded its onshore assets in the country in 2020 with the acquisition of Bandurria Sur. The transaction is subject to regulatory approvals, among other things.
