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About PAE

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We are the leading integrated energy company from the private sector in the region

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DOING THINGS RIGHT IS THE BEST WAY TO DO THEM

We explore and produce oil and gas. We refine oil and commercialize fuels and lubricants. We have a participating interest in the sector of renewable sources of energy.
We add value to our work through strategic investment, operational efficiency and technological innovation.
We are the leading energy producer, employer and investor from the private sector in the region.

USD 15

BILLION

Invested in hydrocarbon exploration and production between 2001 and 2017

USD 1.2

BILLION

Invested in refining and commercializing fuels and lubricants since 2012

USD 1.5

BILLION

Is the estimated investment to expand and modernize the Refinery in Campana

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We contribute to Argentina’s energy development

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18% is our consolidated

participation in the Argentine hydrocarbon market

15% is our participation

in the commercialization of fuels in Argentina

68% increase in our gas production

between 2001 and 2017

24% increase in our oil production

between 2001 and 2017

17% increase in our fuel production

since 2011

146% is the reserves replacement rate

reached over the last 16 years

22,000 people

employed directly or indirectly in our company

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In 1997
Pan American Energy was created
as a result of the merger between Amoco (today BP) and Bridas

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THIS IS THE STORY OF OUR GROWTH, INVESTMENT AND COMMITMENT
Below are the milestones that have positioned our company as one of the leaders of the energy sector in the region:

1997

  • Pan American Energy (PAE) is created of the merger between Bridas and Amoco Corp.
    (today BP)

1999

  • The consortium that we form 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.

2000

  • Start-up of the gas project in Cerro Dragón, including the inauguration of the Zorro Plant, the first gas treatment plant in Golfo San Jorge.

2001

  • Beginning of production of the first gas well in San Pedrito, Salta. Inauguration of the Piquirenda gas treatment plant, supplied by these wells.
  • Start-up of the energy generation project in Cerro Dragón, in the province of Chubut.
  • We become part of the consortium operating the Tarija Basin, in Bolivia.

2002

  • We start the certification process under ISO 14001 Standard, which ensures responsible environmental management during the entire cycle of operations.

2004

  • We start the Creciendo Juntos healthcare program which, in 15 years, has helped reduce neonatal mortality to a third
  • Pan American Energy issues its first international bond for USD 100 million.

2005

  • PAE’s SMEs Program is presented in the Golfo San Jorge Basin, to promote regional development by providing support to small and medium-sized local companies.

2006

  • We complete the project to start production at the Macueta oilfield, in the Acambuco block, province of Salta. This involves production start-up of the Macueta x-1001 bis gas well, the inauguration of the gas pipeline from the well to the Piquirenda gas treatment plant and the expansion of the Piquirenda plant.
  • Pan American Energy issues its second international bond for USD 250 million.

2007

  • The Province of Chubut approves the company’s investment commitment and the Agreement to Extend the Exploration and Production Concessions signed by Pan American Energy and the Province. Some months later, the Province of Santa Cruz issues a similar approval for its territory.
  • The International Finance Corporation (IFC), an agency from the World Bank that provides financing for the private sector, grants the company a USD 550 million loan for our operations. This was the highest amount loaned by this organization in its first 51 years of history.

2008

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

2009

  • Start-up of San Pedrito Gas Compression Plant, to ensure the sustainability of the gas supply from 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 Salta
  • After the international financial crisis, the IFC grants us a USD 153 million loan for our operations.

2010

  • Pan American Energy successfully completes placing its negotiable instruments for USD 500 million.
  • Chinese state-owned CNOOC Limited Oil Company acquires 50% of Bridas Energy Holdings Ltd., As a result, each company has 50% participating interest in Bridas Corp.

2012

  • 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.​
  • Bridas Corp. acquires the fuel refinery and sale assets from ExxonMobil (Esso) in Argentina, Uruguay and Paraguay, thus creating AXION Energy.

2013

  • We start developing tight gas in Lindero Atravesado, Neuquén, which involves the start-up of an ambitious exploration and drilling program, with new surface facilities.
  • Between 2013 and 2014, we place bonds in the local market for 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 Ambiente Sur to work on the recovery of the Hooded Grebe, an Argentine bird in danger of extinction.
  • We obtain a USD 237,5 million loan from Corporación Andina de Fomento (CAF).
  • The U.S. Export-lmport Bank guarantees a loan through Wells Fargo amounting to USD 98,5 million.

2015

  • We add Neuquén to the successful Creciendo Juntos program.
  • We start operating Bandurria Centro, in Neuquén, after signing an agreement for production of unconventional reservoirs with the province.
  • The IFC grants us a USD 520 million loan to finance our investments.
  • We start the project to expand and modernize the Refinery in Campana, with an estimated investment over USD 1.5 billion, the largest refinery project of the last 30 years in Argentina.
  • We inaugurate the first AXION Energy service station.

2016

  • Pan American Energy announces an investment of USD 1.4 billion to Argentina’s President, Mauricio Macri, to be used mainly in the provinces of Chubut, Neuquén and Tierra del Fuego.
  • We start operating the Hokchi block, in the Gulf of Mexico. In October, we start drilling the first well, at an approximate depth of 2,800 meters.
  • The wind energy project submitted by Pan American Energy and 3 GAL S.A. is one of the 17 companies authorized to develop a project to generate renewable sources of energy.

2017

  • 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.
  • We complete the drilling campaign committed as part of the Evaluation Phase of the Hokchi block, in the Gulf of Mexico, 90 days before the agreed date. Five wells (instead of the four wells originally committed) were drilled, and two of them started production, with results that exceeded our expectations.

2017

  • We celebrate the first 20 years of Pan American Energy. We marked the anniversary with events in different locations and with a van that toured around a large area of Patagonia and the city of Buenos Aires offering interactive events.
  • Bridas and BP agree to create an integrated company, consolidating the assets from Pan American Energy and AXION Energy.
  • More than 390 service stations, out of a total 740 that operated under the Esso brand, now operate as AXION Energy.
  • Investment to expand and modernize the Refinery in Campana already amounts to USD 800 million.

2018

  • The integration between Pan American Energy and AXION Energy is completed and we consolidate our position as the first private integrated energy company in the region.
  • Start-up of the Garayalde Wind Farm, located in the province of Chubut. With 7 wind turbines and an electric transformer substation, its installed capacity equals 24.15 MW and will serve to power 20,000 homes per year.

Our Operations Management Models (MGO) includes the complete set of policies, processes and requirements that we implement so that we work in a systematic, integrated and sustainable way
MEET OUR MGO