Equinor has reached an agreement to sell its onshore assets in Argentina’s Vaca Muerta basin to Vista Energy for approximately $1.1bn (Nkr10.61bn).
The sale includes a 30% non-operated stake in the Bandurria Sur licence and a 50% non-operated stake in the Bajo del Toro asset.
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Equinor will receive an upfront cash payment of $550m (9.53bn pesos) and shares in Vista upon closing, along with contingent payments based on production and oil prices over five years.
Scheduled for an effective date of 1 July 2025, the transaction does not impact Equinor’s offshore holdings in Argentina.
The Norwegian energy company expects its international portfolio to expand production and cash flow, particularly through its primary operations in Brazil, the US and the UK, by 2030.
Since its foray into Argentina in 2017 via a joint exploration agreement with YPF on the Bajo del Toro asset, Equinor bolstered its onshore presence by acquiring Bandurria Sur in 2020.
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By GlobalDataEquinor exploration and production international executive vice-president Philippe Mathieu said: “We are realising value from two high-quality assets we have actively developed as we continue to high-grade our international portfolio.
“This transaction strengthens Equinor’s financial flexibility as we evaluate opportunities in our core international markets, where we see substantial growth towards 2030. At the same time, we retain optionality through our offshore positions in Argentina.”
In the third quarter of 2025 (Q3 2025), production from Equinor’s share of Bandurria Sur averaged 24,400 barrels of oil equivalent per day (boepd), while the Bajo del Toro asset contributed 2,100boepd.
Equinor’s portfolio in Argentina also includes offshore exploration licences acquired in 2019 across the North Argentinian Basin and the southern Austral and Malvinas basins.
These areas are currently undergoing subsurface evaluation to identify potential commercially viable opportunities.
No well commitments exist for these licences at present.
The completion of the onshore asset sales to Vista Energy remains subject to necessary regulatory approvals.
Equinor US and Argentina exploration and production international senior vice-president Chris Golden said: “This is a value-driven decision that enhances the resilience of our international portfolio and sharpens our focus in Argentina.”
In December 2025, Equinor and Aker BP discovered hydrocarbons at the Lofn and Langemann prospects in the Sleipner area of the Norwegian North Sea. As per initial estimates, the Lofn prospect holds 3.5–10 million standard cubic metres of recoverable oil equivalent, or 22–63 million barrels of oil equivalent.
