Investor Relations
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Oleoductos del Valle (“OldelVal”)

As of December 31, 2025, Pampa holds a 2.1% direct interest in OldelVal, a company engaged in the exploitation of main oil pipelines that connect the Neuquina Basin to the Bahía Blanca harbor. The pipeline includes the system from the Comahue area to Allen, and the Allen-Puerto Rosales oil pipeline, easing oil exports and supplying the Plaza Huincul and Luján de Cuyo distilleries along the way.

In 2025, the total transported volume averaged 70,644 m3 per day, equivalent to 162.2 million bbl, a 27% increase vs. 2024, mainly explained by the commissioning of Duplicar, a new 525-km oil pipeline that passes through Río Negro, La Pampa and Buenos Aires, and a new terminal station in Puerto Rosales. The project increased oil transport capacity by 50,000 m3 per day and demanded a total investment of US$1,407 million. The works ended on March 15, 2025, and Pampa holds 6,302 bpd of transport capacity.

Transportation from Allen to Puerto Rosales reached 66,139 m3 per day/416,014 bpd on average. Refineries located in Neuquén and Mendoza received an average of 1,071 m3 per day/6,737 bbl and 3,434 m3 per day/21,600 bpd, respectively. As of the closing of 2025, the transportation capacity was 86,000 m3/540,940 bpd without drag-reducing agents and 98,000 m3 per day/616,420 bpd with their use for the entire transportation system, consolidating a key infrastructure to support Vaca Muerta’s growth production.

For further information, visit Regulations in oil transportation.