Local news reports say that Equinor is planning to sell its assets in Argentina.

Mas Energia, a Mas Energia-published online magazine, reported that the Norwegian oil and gas company Equinor was looking to sell their onshore assets located in Argentina's Vaca Muerta Region, citing anonymous sources.

Equinor has appointed Bank of America as the agent to sell its 30% stake in Bandurria Sur and 50% in Bajo del Toro Norte. However, no decision on the divestment has been taken yet, according to the report.

Mas Energia said that the Norwegian company has no plans to sell its stakes offshore licenses in Argentina.

A spokesperson for Equinor declined to comment.

YPF is the state-owned oil firm in Argentina, and it has the right of first refusal. It holds a 40% share in Bandurria Sur, and a 50% stake in Bajo del Toro Norte.

A YPF spokesperson, who asked not to be identified because she was not authorized to make a comment, said: "Everything suggests that Badurria could be an option. However, there is nothing concrete as of yet."

Vaca Muerta is Spanish for "Dead Cow" and holds the second largest shale-oil reserves in the world.

Bandurria Sur produces about 70,000 barrels equivalent to oil, while Bajo del Toro Norte is yet to be developed.

Broker Jefferies, citing Wood Mackenzie's estimates, said that Equinor could have stakes worth $1.3 billion in both licences.

Shell owns 30% of Bandurria Sur. Reporting by Nerijus Adomiaitis in Oslo, and Eliana Razewski in Buenos Aires. Editing by Alexander Villegas and David Goodman.

(source: Reuters)