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A story of growth,
investment and commitment

Below are the milestones that have positioned our company as one of the global leaders
of the energy sector in Argentina and in the region.


After 25 years, PAE has consolidated its position as a leading global energy company with activities in Argentina, Bolivia, Mexico, Brazil, Uruguay and Paraguay. The company employs more than 20,000 people either directly or indirectly. It produces 250 MBoed of oil and gas per day in the region. It has 400 MW of installed capacity for thermal power generation and 170 MW in renewable energies.


Launch of AXION DIESEL X10, a new diesel platform, with less than 10 parts per million of sulfur and available at AXION energy service stations in the country.


Start-up of the new Diesel Hydrotreating Plant (DHT), which will produce the highest quality fuel in the world, with negligible sulfur content.


PAE obtains a loan for USD 500 million dollars from the International Finance Corporation for the expansion and modernization of the refinery in Campana.

We launch Quantium, a premium fuel of the highest quality worldwide.

We complete the rebranding process of all AXION energy service stations.

Together with Genneia, and with an estimated investment of USD 190 million, we start developing two new wind farms in Chubut that will provide an amount of energy equivalent to that needed to power 197,000 homes.

Completion of the expansion and modernization of the refinery in Campana, the largest refinery project of the last 30 years in the country.


Start-up of the Garayalde Wind Farm,, in Chubut. With 7 wind turbines and an electric transformer substation, its installed capacity equals 24.15 MW and will serve to power 30,000 homes per year.

Strategic alliance in Argentina between AXION energy and Castrol. With this agreement, the refinery in Campana produces 90% of the Castrol product line, and more than 400 products are distributed and commercialized through our service station network.

Axion energy is the first service station network in the country to offer a charger for electric cars.

We are in the first quartile of the safest companies according to the ranking developed by the International Association of Oil & Gas Producers (IOGP).


Pan American Energy Group (PAEG) is created: Bridas and BP agree to create an integrated company, consolidating the assets from Pan American Energy and AXION energy. PAEG shareholders are Bridas Corp (50%) and BP (50%).

We launch a cyber simulator, a state-of-the-art training tool that is the only one of its kind in the country, which faithfully reproduces different drilling operation scenarios.

Hokchi energy, a Mexican upstream company and a subsidiary of Pan American Energy, completes the evaluation plan approved by the National Commission of Hydrocarbons (CNH). The campaign included drilling 5 wells and allowed us to confirm the productivity of the Hokchi oilfield.

PAE is awarded the concession of the Aguada de Castro (ACAS) and Aguada Pichana Oeste (APO) blocks. The latter is the result of subdividing the Aguada Pichana block, approved by the province of Neuquén, and until then operated by a joint venture (UTE, in Spanish).


We start operating the Hokchi block, in the Gulf of Mexico, our first offshore project as an operator abroad.

Partnering with Madalena Energy, PAE starts operating the Coirón Amargo Sur Este (CASE) block, located in the Neuquina basin, with an unconventional objective.


We start the project to expand and modernize the refinery in Campana, with an investment of over USD 1.5 billion

PAE starts operating Bandurria Centro, in Neuquén, after signing an agreement for the production of unconventional reservoirs with the province.

The IFC grants us a USD 250 million loan to finance our investments.

Inauguration of the first AXION energy service station.

We certify under ISO 14001 standard both our lubricants plant and the commercial dispatch plant at the refinery in Campana.


We drill MAC-1004 in the province of Salta, the first multilateral well with intelligent completion in Argentina.

PAE obtains a USD 237,5 million loan from Corporación Andina de Fomento (CAF) and a USD 98.5 million loan from Wells Fargo, guaranteed by the Exim Bank from the United States.


We start developing tight gas in Lindero Atravesado, in the province of Neuquén, which involves the start-up of an ambitious exploration and drilling program, with new surface facilities.


AXION energy is created: Bridas Corp. acquires the fuel refinery and sale assets from ExxonMobil (Esso) in Argentina, Uruguay and Paraguay.

In June, a group of workers who call themselves “Dragones” (Dragons) violently enter the Cerro Dragón oilfield and illegally occupy the facilities, causing what is considered the most violent episode in the country´s oil history.


Chinese state-owned CNOOC Limited acquires 50% of Bridas Energy Holdings Ltd. As a result, each company has 50% participating interest in Bridas Corp.

Pan American Energy successfully completes placing its negotiable instruments for USD 500 million.


Start-up of San Pedrito Gas Compression Plant, to ensure the sustainability of the gas supply in the Noroeste Basin.

Together with Mundo Sano Foundation, we start implementing the Vector-Borne Disease Control Program, focused on fighting dengue fever in the northern part of the province of Salta.

After the international financial crisis, the IFC grants us a USD 153 million loan for our operations.


Pan American Energy obtains a USD 200 million loan to finance its investments in Argentina.

Our downstream operations are certified under ISO 9001 standard to ensure the management and improved quality of our products and services.


Approval of the investment commitments and agreements to extend the exploration and production concessions signed by Pan American Energy and the provinces of Chubut and Santa Cruz.

The International Finance Corporation (IFC), a World Bank entity that provides financing to the private sector, grants the company a USD 500 million loan for our operations. This was the largest loan granted by the institution in 51 years.


Production start-up of the Macueta oilfield, in the province of Salta. Inauguration of the gas pipeline from the well to the Piquirenda gas treatment plant.

Pan American Energy issues its second international bond for USD 250 million.


PAE’s SMEs Program is created, to promote local development by providing support in the regions where the company operates.


PAE issues its first international bond for USD 100 million.

We start the Creciendo Juntos Program to help reduce infant mortality in Chubut. Today, the program is replicated in Santa Cruz, Neuquén and Buenos Aires.


We become certified under ISO 14001 Standard, which ensures responsible environmental management during the entire cycle of our operations.


Start-up of the energy generation project in Cerro Dragón, in the province of Chubut.

Beginning of production of the first gas wells in San Pedrito, Salta. Inauguration of the Piquirenda gas treatment plant.


Inauguration of the Zorro Plant, the first gas treatment plant in the Golfo San Jorge Basin.


The consortium formed together with Total (operator) and Wintershall starts production of the first underwater well in Argentine waters, in the Argo field, located in the province of Tierra del Fuego.


Pan American Energy is created as a result of the merger between Amoco (BP) and Bridas.

Operations Management Model

The model comprises the set of policies, processes and requirements that we implement to work in a sustainable, systematic and integrated manner.