We hold interests and operate more than 40 oil and gas fields across twelve blocks in the Austral basin. In addition, we hold interests in one block in the  Northwestern basin in Argentina. Our areas in Argentina cover an aggregate 7.3 million gross acres and 5.3 million net acres. The Austral 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 the Austral basin and joint operating partners operate our oil and gas field in the Northwestern basin, Aguaragüe block

Our production and development activities are conducted pursuant to 26 production concessions and 4 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 sea port, which allows us to easily access the oil market. 

Additionally, we have significant investments in a network of pipelines in northern and central Argentina. In 2018 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 million MMm3/d.