We hold interests and operate more than 160 oil and gas fields across twelve blocks in the Austral basin, fifteen blocks in the Golfo San Jorge basin, five blocks in the Cuyana basin, one block in the Northwestern basin and one block in the Eastern basin (Venezuela). Our areas in Argentina cover an aggregate 7.9 million gross acres and 6.8 million net acres. The Austral basin and Golfo San Jorge basin, located in the extreme south of South America, comprises the substantial majority of our production and reserves, and is where we intend to continue to focus our activities. We operate all of our oil and gas fields in both basins and two of our fields in Cuyana basin. The three remaining fields in Cuyana basin, and our field in the Northwestern basin, Aguaragüe block, are operated by our partners. 

Our production and development activities in the Austral basin are conducted pursuant to 26 production concessions and three exploration permits granted by the Argentine federal and provincial governments. One of our concessions is for non-conventional gas production in the Campo Indio Este-El Cerrito block, which was extended for an additional 35-year term in January 2018. We conduct these activities ourselves or in conjunction with joint operating partners.

We own several infrastructure facilities in the Austral Basin, including oil and natural gas treatment plants, gathering systems, batteries for collecting fluids at each field and more than 1,300 km of interconnection pipelines to transport production to treatment. This allow us to switch our oil and gas mix to quickly respond to changes in the domestic and international energy market and to capture the best prices available in the market. Additionally, we operate important storage and delivery facilities (with capacity of 135,000 m3) near the Punta Loyola seaport, which allows us to access both local and international crude oil markets. 

In February 19, 2020, we inaugurated our “Sur Río Chico” underground gas storage facility, the second such facility in Argentina, which will allow us to inject approximately 1,000 Mm3/d of natural gas during the summer season and extract approximately 2,000 Mm3/d during the winter season.

In June 30, 2021, we acquired Sinopec Argentina Exploration and Production. With this acquisition, we increased our production by more than 50,000 Barrels of oil equivalent per day (boe), balancing our product mix to approximately 63% gas and 37% oil (previously 85% and 15% respectively). 

The assets incorporated in the acquisition cover more than 4,600 km2, most of them located in Golfo San Jorge basin and Cuyana basin. The acquisition included a stake in Termap, the port terminal operator in Caleta Olivia (Santa Cruz) and Caleta Córdova (Chubut). 

As of December 2021, we increased our oil production to more than 3,200 m3 per day (m3/d) and our gas production to 5,600 Mm3 per day (Mm3/d). Additionally, proven reserves increased more than 100% (from 59 MM boe to approximately 122 MM boe).

CGC has also significant investments in TGN, the second largest gas pipelines network in northern and central Argentina. In 2021, this network of pipelines represented 40% of the gas transportation market in Argentina and consisted of an aggregate total length of over 7,300 km of pipeline with a delivery capacity of approximately 60 MMm3/d.

Additionally, the Company hold 40% interest in both GasAndes Argentina and GasAndes Chile connecting La Mora field (Mendoza) with the city of Santiago de Chile.