November 6, 2018 |
ExxonMobil has agreed to buy a 21% stake in the Argentine natural gas pipeline company Oleoductos del Valle (OldelVal) from Pampa Energía for $36.4m.
The sale, which is still waiting for regulatory approval, leaves Pampa with 2.1% of OldelVal, the Argentine energy company said in a statement. Pampa added that it expects to clear roughly ARS700m ($19.6m) after it closes the deal.
Pampa had owned 23.1% of OldelVal since December last year.
OldelVal operates the main access ways to the Allen-Puerto
US oil company spends $36m for 21% of the Argentine natural gas pipeline company