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A LONG HISTORY WHICH IS JUST BEGINNING
 
Almost 20 years ago, the merger of two companies with a significant track-record–Amoco and Bridas- became the starting point of a path filled with milestones tied to large investments, technological innovation and positive partnerships with our companies that helps us maximize results.
TIMELINE
 
  • 1997
    Pan American Energy is born out of the joint venture between Bridas and Amoco Corp. (today, BP.).
  • 1999
    The consortium formed with partners Total (operator) and Wintershall starts up production in Argo (Tierra del Fuego), Argentina’s first offshore oilfield.
  • 2000
    The consortium formed with partners Total (operator) and Wintershall starts up production in Argo (Tierra del Fuego), Argentina’s first offshore oilfield.
  • 2001
    • Production start-up of the first gas producing wells in San Pedrito, Salta. Inauguration of the Piquirenda gas treatment plant, with supply from these wells.
    • Start-up of the electric power generation project at Cerro Dragón.
    • We become partners in the consortium that operates the Tarija Basin, in Bolivia.
  • 2002
    We begin the process to become ISO 1004 certified. This standard ensures a responsible environmental management system throughout the project’s lifecycle.
  • 2004
    • We begin implementing the “Creciendo juntos” (Growing together) healthcare program, which, over the course of 12 years, has helped reduce neonatal mortality by a third.
    • PAE places its first international bond for 100 million dollars.
  • 2005
    • Launch of the Golfo San Jorge Pymes (SMEs) Program, a project that seeks to promote the economic and social development in the region by providing support to small and medium-sized local enterprises.
  • 2006
    • PAE completes the Macueta project in Acambuco, Salta, with production start-up of the Macueta.x-1001bis (1) gas well, the inauguration of a pipeline that ties this well back to the Piquirenda gas treatment plant, and the expansion of this plant.
    • Issue of the second international bond for 250 million dollars.
  • 2007
    • The Province of Chubut approves the company’s investment commitment and the Agreement to Extend the Exploration and Production Concessions signed by PAE and the Province. Some months later, the Province of Santa Cruz issues a similar approval for its territory.
    • The International Finance Corporation (IFC, the World Bank’s organization that offers financing to the private sector) grants PAE a 550 million dollar loan for our operations. This is the largest loan granted by the organization to any company in 51 years.
  • 2008
    INVESTMENT
    PAE obtains a 200 million dollar loan to finance investments in Argentina.
  • 2009
    • PAE commissions the San Pedrito Compressor Plant to ensure the sustainability of gas supply for the Noroeste Basin.
    • Together with Mundo Sano Foundation, we implement the Program to control vector-borne diseases, especially focusing on fighting dengue fever in the north of the province of Salta.
    • After the international crisis, the IFC granted the company a 153 million dollar loan for our operations.
  • 2010
    • PAE successfully secures the placing of its third international bond for 500 million dollars, and becomes the first Argentine company to issue a negotiable instrument after the international crisis.
    • Cnooc Ltd., the Chinese state-owned oil company, buys 50% of Bridas Energy Holdings Ltd. Thus, each company holds a 50% interest in Bridas Corp., owner of 40% of Pan American Energy.
  • 2012
    In June, a group of workers who call themselves “Dragones” (Dragons) violently enter the Cerro Dragón oilfield and illegally occupy the facilities, causing the most violent episode in the country´s oil history.​
  • 2013
    • We start developing tight gas in Lindero Atravesado, Neuquén. This involves a very ambitious exploration and drilling program, and setting up new surface facilities.
    • From 2013 until 2014, PAE places bonds in the local market for an amount of 3.7 billion pesos.
  • 2014
    • We drill MAC-1004, the first multilateral well with intelligent completion in Argentina.
    • We sign an agreement with Aves Argentinas and with Ambiente Sur to work on the protection and recovery of the Hooded Grebe, one of Argentina’s indigenous birds, which is critically endangered.
    • PAE enters into an agreement with the Andean Development Corporation (CAF) to secure a 237.5 million dollar loan.
    • The US Export-Import Bank serves as collateral for a 98.5 million dollar loan granted to PAE by Wells Fargo.
  • 2015
    • We add Neuquén to our successful Creciendo Juntos healthcare program.
    • We reach more than 200,000 beneficiaries in the communities where we operate with our CSR initiatives.
    • We start operating Bandurria Centro, in Neuquén, after entering into an agreement for unconventional production with the province.
    • IFC grants PAE a 520 million dollar loan to finance investments.
  • 2016
    • PAE announces to the President of the Nation, Ing. Mauricio Macri, an investment of 1,400 million dollars in 2016, that will be destined mainly to the provinces of Chubut, Neuquén and Tierra del Fuego.
    • We started to operate the Hokchi area, located in the Gulf of Mexico. In October, we began drilling the first well, with an approximate depth of 2,800 meters.
    • PAE and 3Gal SA’s proposal was one of the 17 projects authorized to develop a wind farm project to generate renewable energy.