Oleoductos del Valle (‘OldelVal’)
As of December 31, 2020, Pampa holds a 2.1% direct interest in OldelVal. OldelVal operates main oil pipelines providing access to Allen, in the Comahue area, and the Allen – Puerto Rosales oil pipeline, evacuating the oil produced in the Neuquina Basin to Puerto Rosales (a port in the City of Bahía Blanca) and the supply of the Plaza Huincul and Luján de Cuyo distilleries, all located in the pipeline’s area of influence.
In 2020, Allen’s oil transportation to Puerto Rosales reached 26,817 m3/day on average, and transportation to the refineries located in the provinces of Neuquén and Mendoza totaled an average of 1,702 m3/day and 571 m3/day, respectively. The total transported volume was 29,090 m3/day, equivalent to 66.4 million bbl transported in 2020, representing a 3.7% increase compared to 2019.
Moreover, due to the effects of COVID-19, in 2020 a temporarily significant decrease in the demand for oil-based fuels was evidenced. The decline in consumption and the lack of storage capacity generated a reduction in crude oil production in the Neuquina Basin, especially in April and May, for which the transported volume also decreased. However, as from the month of June and the lockdown easing measures passed by the Federal Government, the expected transported volumes were restored.
In this way, OldelVal has managed to maintain the transportation service, ensuring operational continuity and a reliable pumping system. Furthermore, planned objectives were achieved in terms of safety and support investments.