Petronas is considering selling its 50% stake in Argentina’s La Amarga Chica shale oil venture with YPF SA, marking its full exit from Vaca Muerta. The company has already engaged with a potential buyer, as several international drillers also look to divest from the region.
Last year, Petronas exited a venture with YPF to develop a shale gas liquefaction and export project.Petronas joined La Amarga Chica in 2014, when Argentina’s shale industry was emerging.
The 46,000-acre field is split equally between partners, according to YPF.If the sale proceeds, Petronas will follow Exxon Mobil in divesting from Argentine shale oil, capitalizing on improving prospects under President Javier Milei.
Equinor is also considering an exit, while TotalEnergies may sell if it secures a high valuation, leaving the field largely to local firms.
