Pampa Energía S.A. (NYSE:PAM) Q3 2023 Earnings Call Transcript

Then we are very active, again, as everybody knows in the gas side. We ramp up oil production this year. We are very proud of that. And then this is all under take-or-pay contracts for the next 5 years as Horacio said. So upcoming, it’s to see if there’s more pipelines around so we can keep replacing imports and then obviously, as the second generation thing to keep to Chile, to Brazil, to other countries. And then in power generation, I’m saying this later because today, we are restricted. We are curtailed by the high-voltage grid that is not something that we control. Today, what we are doing, it’s like what Raquel is putting on the slide, it’s PEPE VI. This is our current power generation expansion in the pipeline, but we’re not doing more further from this because there’s no power available.

We would love to do more, but that’s — today, we are restrained for that. But today’s data and today also, we are — as you know, we addressed in this call is the thermal auction that the government is doing. And again, we apply — 2 projects and both of them qualify the economic and the technical part. So we feel like very confident that we can have awarded that. So that’s it. It’s — basically, our main idea is to keep increasing our E&P footprint. I would say that the, as Horacio said very well, the upside potential there is way more exciting because infrastructure has been up and constructed. In the other side, power generation is also — it’s a core business of Pampa. The pain is that today we’re restricted by the power grid.

Operator: Thank you very much for all your questions. This concludes the question-and-answers section. And I will turn to Lida for the final remarks.

Lida Wang: I don’t know if you want to say anything, Horacio? No?

Horacio Turri: No?

Lida Wang: No. He done well. He has been quick and fast. But again, anything you may need, you forgot to ask, we are more available for you. You can reach us out. Thank you for joining our conference calls. We appreciate it until next quarter. Bye, bye.