1. Home
  2. News and insights
  3. Press releases
  4. BP and Bridas complete formation of new integrated energy company

BP and Bridas complete formation of new integrated energy company

Release date: 18 December 2017

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.

Further information

Contacts

 

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