BP and Bridas complete formation of new integrated energy company

BP today confirmed that formation of Pan American Energy Group (PAEG) has completed. The new company, owned by BP (50%) and Bridas Corporation (50%), is now the largest privately-owned integrated energy company operating in Argentina.

PAEG was formed by the combination of Pan American Energy and Axion Energy. Pan American Energy had been owned 60:40 by BP and Bridas Corporation and Axion wholly-owned by Bridas Corporation.

The cash-free transaction had originally been expected to complete in early 2018.

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BP press office, London: +44 (0)207 496 4076, bppress@bp.com