As of December 31, 2024, Pampa holds a 2.1% direct interest in OldelVal, a company engaged in the exploitation of main oil pipelines providing access to Allen, in the Comahue area, and the Allen – Puerto Rosales oil pipeline, facilitating the evacuation of the oil produced in the Neuquina Basin to Puerto Rosales (a port in the City of Bahía Blanca) and supplying the Plaza Huincul and Luján de Cuyo distilleries in its route.
In 2024, the total transported volume was 55,826 m3 per day, equivalent to 128.2 million bbl, experiencing a 1.5% increase vs. 2023. Transportation from Allen to Puerto Rosales reached 46,962 m3 per day on average. In contrast, the refineries located in Neuquén and Mendoza received an average of 2,525 m3 and 6,339 m3 per day, respectively. As of the closing of 2024, the section’s transportation capacity was 36,000 m3 per day without drag-reducing agents and 51,408 m3 per day with their use for the entire transportation system.
Given the production growth in the Neuquina Basin, Oldelval will expand transportation capacity with the Duplicar project, with 525 km of new pipelines in Río Negro, La Pampa and Buenos Aires, and a new terminal station in Puerto Rosales. With an initial investment estimated at US$1,180 million and a 28-month execution term, the project was financed through the local capital markets and disbursements from shippers under Ship or Pay contracts. In August 2024, Oldelval updated the investment amount to US$1,325 million, explained by cost variations and the project’s greater scope.
On October 1, 2023, the first phase became operational, adding 12,000 m3 of transportation per day. On August 29, 2024, Oldelval announced a new expansion schedule: 12,500 m3 per day (Sep-24), 13,500 m3 per day (Oct-24), 15,000 m3 per day (Nov-24) and 16,000 m3 per day (Dec-24). Pampa was awarded a 6,302 bbl/day quota.
