Petrobras sells Austral Basin assets in Argentina to CGC for $101 million

Petrobras Argentina (PESA) has approved the sale of its Austral Basin assets, located in Argentina’s Santa Cruz province, for $101 million to Compañía General de Combustibles SA (CGC).

The PESA assets that are part of the deal include 26 onshore exploration production concessions, with an average production of 15,000 barrels of oil equivalent per day, as well as the entire infrastructure required for distribution, treatment and storage.

The conclusion of the transaction is subject to the approval of the responsible entities in Argentina.

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