Oil & Gas - Argentina

Perez Companc Sells San Antonio to Pride International

Perez Companc Sells San Antonio to Pride International

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Argentine oil company Perez Companc has sold its interest in oil services company Servicios Especiales San Antonio to US-based Pride International for US$78mn. San Antonio has businesses in Argentina, Venezuela, Bolivia and Peru.

The sale price could increase by US$12mn, according to a statement from Perez Companc to the Buenos Aires Stock Exchange. A source in the company said that the sale is in line with Perez's plan of concentrating investments in its two main areas, energy and petrochemicals.