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NON-FINANCIAL ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Non-financial Assets And Liabilities  
Schedule of changes in property plant and equipment
                         
      Original values
Type of good     At the beginning    Increases (1)   Transfers   Decreases   Impairment   At the end 
             
             
Lands     14   -   -   -   -   14
Buildings     143   -   3   (2)   -   144
Equipment and machinery     1,916   1   175   (132)   -   1,960
Wells     992   15   358   (21)   (149)   1,195
Mining property     181   21   15   -   (19)   198
Vehicles     10   2   1   (2)   -   11
Furniture and fixtures and software equipment     59   1   2   -   -   62
Communication equipments     3   -   -   (2)   -   1
Materials, spare parts and tools     36   93   (85)   -   -   44
Petrochemical industrial complex     29   -   3   -   -   32
Civil works     3   -   22   (1)   -   24
Work in progress     254   547   (381)   -   -   420
Advances to suppliers     43   134   (113)   -   -   64
Total at 12.31.2023     3,683   814   -   (160)   (168)   4,169
Total at 12.31.2022     3,040   745   -   (2)   (100)   3,683

 

(1)Includes US$ 21 million and U$S 11 million corresponding to capitalized financial costs in the fiscal year ended December 31, 2023 and 2022.

Additionally, as of December 31, 2022, it includes U$S 295 million resulting from the incorporation of assets related to the acquisition of the equity interests detailed in Notes 5.2.3 and 5.2.5.

 

 

      Depreciation   Net book values
Type of good     At the beginning    Decreases    For the year (1)   Impairment   At the end   At 12.31.2023   At 12.31.2022
               
               
Lands     -   -   -   -   -   14   14
Buildings     (76)   -   (7)   -   (83)   61   67
Equipment and machinery     (639)   14   (123)   -   (748)   1,212   1,277
Wells     (589)   10   (112)   113   (578)   617   403
Mining property     (134)   -   (7)   17   (124)   74   47
Vehicles     (8)   1   (1)   -   (8)   3   2
Furniture and fixtures and software equipment     (52)   -   (5)   -   (57)   5   7
Communication equipments     (1)   -   -   -   (1)   -   2
Materials, spare parts and tools     (3)   -   -   -   (3)   41   33
Petrochemical industrial complex     (17)   -   (5)   -   (22)   10   12
Civil works     -   -   (1)   -   (1)   23   3
Work in progress     -   -   -   -   -   420   254
Advances to suppliers     -   -   -   -   -   64   43
Total at 12.31.2023     (1,519)   25   (261)   130   (1,625)   2,544    
Total at 12.31.2022     (1,381)   -   (208)   70   (1,519)       2,164

 

(1)As of December 31, 2023, the composition of the segments is as follows: Generation: US$ 90 million; Oil and gas: US$ 166 million; and Petrochemicals: US$ 5 million.
Schedule of intangible assets
                     
    Original values
Type of good   At the beginning     Increases (1)   Decreases   Impairment (2)   At the end
           
           
Concession agreements   2     -   -   -   2
Goodwill   35     -   -   -   35
Intangible identified in acquisitions of companies   101     -   (30)   -   71
Digital assets   7     -   (9)   2   -
Total at 12.31.2023   145     -   (39)   2   108
Total at 12.31.2022   44     125   (18)   (6)   145
                       
                       
    Amortization    
Type of good   At the beginning     For the year   Impairment (2)   At the end    
           
           
Concession agreements   (2)     -   -   (2)    
Intangible identified in acquisitions of companies   (5)     (5)   -   (10)    
Total at 12.31.2023   (7)     (5)   -   (12)    
Total at 12.31.2022   (6)     (1)   -   (7)    
                       
                       
    Net book values            
Type of good   At 12.31.2023     At 12.31.2022            
                   
                     
Goodwill   35     35            
Intangible identified in acquisitions of companies   61     96            
Digital assets   -     7            
Total at 12.31.2023   96                  
Total at 12.31.2022         138            

(1)As of December 31, 2022, it includes US$ 94 million for the incorporation of assets from the acquisition of equity interests detailed in Notes 5.2.3 and 5.2.5.
(2)The sale of the digital assets at market price resulted in the recording of an impairment recovery for US$ 2 million as of December 31, 2023. As of December 31, 2022, the recoverability of the digital assets was affected by their market value at closing, resulting in the recording of impairment losses for US$ 6 million.
Schedule of deferred tax assets and liabilities
             
  12.31.2022   Profit (loss)   Sale of subsidiary   12.31.2023
Tax loss carryforwards 19   125   -   144
Property, plant and equipment 151   (151)   -   -
Trade and other receivables 4   (3)   -   1
Provisions 59   (6)   -   53
Salaries and social security payable  1   -   -   1
Defined benefit plans 8   (6)   2   4
Other 1   (1)   -   -
Deferred tax asset 243   (42)   2   203
Property, plant and equipment (79)   (188)   45   (222)
Intangible assets (35)   1   -   (34)
Investments in companies (8)   1   -   (7)
Inventories (19)   (26)   -   (45)
Financial assets at fair value through profit and loss (15)   (3)   -   (18)
Trade and other receivables (23)   12   1   (10)
Taxes payables (2)   2   -   -
Tax inflation adjustment (138)   (28)   3   (163)
Other -   (1)   -   (1)
Deferred tax liability (319)   (230)   49   (500)
Deferred tax (liability) asset (76)   (272)   51   (297)

 

  12.31.2021   Profit (loss)   Increases  for incorporation   12.31.2022
Tax loss carryforwards 13   6   -   19
Property, plant and equipment 80   71   -   151
Financial assets at fair value through profit and loss 3   (3)   -   -
Trade and other receivables 5   (1)   -   4
Provisions 57   2   -   59
Salaries and social security payable  -   1   -   1
Defined benefit plans 9   (1)   -   8
Other -   1   -   1
Deferred tax asset 167   76   -   243
Property, plant and equipment -   -   (79)   (79)
Intangible assets (13)   -   (22)   (35)
Investments in companies (11)   3   -   (8)
Inventories (10)   (9)   -   (19)
Financial assets at fair value through profit and loss (14)   (1)   -   (15)
Trade and other receivables (31)   8   -   (23)
Taxes payables (3)   1   -   (2)
Tax inflation adjustment (1)   (124)   (13)   (138)
Deferred tax liability (83)   (122)   (114)   (319)
Deferred tax asset (liability) 84   (46)   (114)   (76)
Schedule of deferred tax assets and liabilities
     
  12.31.2023   12.31.2022
Deferred tax asset -   36
Deferred tax liability (297)   (112)
Deferred tax liability  (297)   (76)
Schedule of inventories
       
  12.31.2023   12.31.2022
Current        
Materials and spare parts   129   104
Advances to suppliers   4   8
In process and finished products   72   61
Total (1)   205   173

 

(1)It includes impairment loss as a result of the performed recoverability assessment for US$ 3 million and US$ 2 million as of December 31, 2023 and 2022, acoording with the policy described in Note 4.13.
Schedule of provisions
       
    12.31.2023   12.31.2022
Non-Current        
Contingencies   109   107
Asset retirement obligation and wind turbines decommisioning   26   25
Environmental remediation   15   15
Total Non-Current   150   147
         
Current        
Asset retirement obligation and wind turbines decommisioning   3   2
Environmental remediation   2   2
Other provisions   1   -
Total Current   6   4
Schedule of evolution in provisions
           
    12.31.2023
    Contingencies   Asset retirement obligation and decommisioning  of wind turbines   Environmental remediation
             
At the beginning of the year   107   27   17
Increases   15   6   3
Decreases   (4)   -   (1)
Foreign currency exchange difference   (9)   -   -
Reversal of unused amounts   -   (4)   (2)
At the end of the year   109   29   17
             
             
             
    12.31.2022
    Contingencies   Asset retirement obligation and decommisioning  of wind turbines   Environmental remediation
             
At the beginning of the year   106   21   18
Increases   5   6   -
Increases for incorporation   -   1   -
Decreases   (1)   -   (1)
Foreign currency exchange difference   (2)   -   -
Reversal of unused amounts   (1)   (1)   -
At the end of the year   107   27   17

 

 

    12.31.2021
    Contingencies   Asset retirement obligation and decommisioning  of wind turbines   Environmental remediation
             
At the beginning of the year   103   21   3
Increases   16   3   15
Decreases   -   (1)   -
Reversal of unused amounts (1)   (13)   (2)   -
At the end of the year   106   21   18

 

(1)Includes recovery of contingencies of US$ 12.5 million related to the waive of the timely granted dispatch of Las Armas Wind Farm (see Note 2.1.2.3).
Schedule of income tax and minimum notional income tax liability
       
    12.31.2023   12.31.2022
Non-current        
Income tax, net of witholdings and advances   50   161
Minimum notional income tax   5   18
Total non-current   55   179
         
Current        
Income tax, net of witholdings and advances   17   5
Total current   17   5
Schedule of tax liabilities
       
    12.31.2023   12.31.2022
Current        
Value added tax   -   5
Personal assets tax provision    3   4
Tax withholdings to be deposited   3   5
Royalties   6   12
Other   2   2
Total current   14   28
Schedule of defined benefit plans information
         
  12.31.2023
  Present value of the obligation   Present value of assets   Net liability at the end of the year
At the beginning of the year 38   (4)   34
Items classified in profit or loss           
Current services cost 1   -   1
Interest cost 29   (4)   25
Items classified in other comprehensive
 income		          
Actuarial loss (gain) 7   (2)   5
Benefit payments (3)   -   (3)
(Gain) Loss on exchange difference (49)   6   (43)
At the end of the year 23   (4)   19
           
           
  12.31.2022
  Present value of the obligation   Present value of assets   Net liability at the end of the year
At the beginning of the year 33   (4)   29
Items classified in profit or loss           
Current services cost 1   -   1
Interest cost 15   (2)   13
Items classified in other comprehensive
 income		          
Actuarial loss 9   -   9
Benefit payments (3)   -   (3)
(Gain) Loss on exchange difference (17)   2   (15)
At the end of the year 38   (4)   34

 

  12.31.2021
  Present value of the obligation   Present value of assets   Net liability at the end of the year
At the beginning of the year 25   (4)   21
Items classified in profit or loss           
Current services cost 1   -   1
Interest cost 13   (3)   10
Items classified in other comprehensive
 income		          
Actuarial loss 1   2   3
Benefit payments (2)   -   (2)
(Gain) Loss on exchange difference (5)   1   (4)
At the end of the year 33   (4)   29
Schedule of estimated expected benefits payments
 
  12.31.2023
Less than one year 3
One to two years 2
Two to three years 2
Three to four years 2
Four to five years 2
Six to ten years 9
Schedule of significant actuarial assumptions
         
  12.31.2023   12.31.2022   12.31.2021
Real discount rate 5%   5%   5%
Real wage increase rate 1%   1%   1%
Inflation rate 156%   118%   54%
Schedule of sensitivity analysis effect of a variation
 
  12.31.2023
Discount rate: 4%  
Obligation 25
Variation 2
  10%
   
Discount rate: 6%  
Obligation 21
Variation (2)
  (9%)
   
Real wage increase rate: 0%  
Obligation 22
Variation (1)
  (3%)
   
Real wage increase rate: 2%  
Obligation 24
Variation 1
  4%
Schedule of salaries and social security payable
       
    12.31.2023   12.31.2022
Current        
Salaries and social security contributions   3   5
Provision for vacations   5   8
Provision for gratifications and annual bonus for efficiency   11   19
Total current   19   32