Core Viewpoint - The company has completed the sale of its subsidiary HLG BVI, which operated in the Los Blancos oil extraction area in Argentina, marking its exit from the Argentine oil business and a strategic move to streamline operations and reduce geopolitical risks [1][2]. Group 1 - The company, through its wholly-owned subsidiary HLG BVI, held a 50% interest in the Los Blancos oil extraction rights in Salta Province, Argentina, alongside Pampa Energía S.A. [1] - The rights were granted in October 2020 for a 25-year period to produce crude oil in the Los Blancos area [1]. - The sale agreement with Lantau Tomorrow Development Inc. was signed on December 31, 2025, for the entire issued share capital of HLG BVI, with the price determined based on fair negotiations considering HLG BVI's net asset value and market conditions [1]. Group 2 - The sale was completed immediately on the date of the agreement, resulting in HLG BVI no longer being a subsidiary of the company, and its financial data will not be consolidated into future financial statements [2]. - The company will cease its operations in the Argentine oil business as a result of this sale, fully disposing of all its assets in Argentina [2]. - This divestment aligns with the company's intention to exit the northeastern Argentine oil and gas sector, streamline operations, and reallocate resources to other business segments [2].
新时代集团控股出售阿根廷东北部上游油气业务