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v3.25.1

NON-FINANCIAL ASSETS AND LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Non-financial Assets And Liabilities |
Schedule of changes in property, plant and equipment |
Schedule of changes in property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Original values |  |
Type of good |  |  | At the beginning |  | Increases (1) |  | Increases for incorporation (2) |  | Transfers |  | Decreases |  | Impairment |  | At the end
Lands |  |  | 14 |  | - |  | - |  | - |  | - |  | - |  | 14
Buildings |  |  | 144 |  | - |  | - |  | - |  | - |  | - |  | 144
Equipment and machinery |  |  | 1,960 |  | 1 |  | 2 |  | 353 |  | (11) |  | (60) |  | 2,245
Wells |  |  | 1,195 |  | 8 |  | - |  | 257 |  | (52) |  | (95) |  | 1,313
Mining property |  |  | 198 |  | - |  | - |  | - |  | (3) |  | - |  | 195
Vehicles |  |  | 11 |  | 1 |  | - |  | - |  | (1) |  | - |  | 11
Furniture and fixtures and software equipment |  |  | 62 |  | 4 |  | 1 |  | 2 |  | (29) |  | - |  | 40
Communication equipments |  |  | 1 |  | - |  | - |  | - |  | - |  | - |  | 1
Materials, spare parts and tools |  |  | 44 |  | 55 |  | - |  | (49) |  | (2) |  | - |  | 48
Petrochemical industrial complex |  |  | 32 |  | - |  | - |  | 8 |  | - |  | - |  | 40
Civil works |  |  | 24 |  | - |  | - |  | 38 |  | - |  | - |  | 62
Work in progress |  |  | 420 |  | 382 |  | - |  | (562) |  | (1) |  | - |  | 239
Advances to suppliers |  |  | 64 |  | 21 |  | - |  | (47) |  | - |  | - |  | 38
Total at 12.31.2024 |  |  | 4,169 |  | 472 |  | 3 |  | - |  | (99) |  | (155) |  | 4,390
Total at 12.31.2023 |  |  | 3,683 |  | 814 |  | - |  | - |  | (160) |  | (168) |  | 4,169
| (1) | Includes US$ 8 million and U$S 21 million corresponding to capitalized financial costs in the fiscal year ended December 31, 2024 and 2023.
| (2) | See Note 5.2.1.
|  |  | Depreciation |  | Net book values
Type of good |  |  | At the beginning |  | Decreases |  | For the year (1) |  | Impairment |  | At the end |  | At 12.31.2024 |  | At 12.31.2023
Lands |  |  | - |  | - |  | - |  | - |  | - |  | 14 |  | 14
Buildings |  |  | (83) |  | - |  | (9) |  | - |  | (92) |  | 52 |  | 61
Equipment and machinery |  |  | (748) |  | 9 |  | (146) |  | 43 |  | (842) |  | 1,403 |  | 1,212
Wells |  |  | (578) |  | 17 |  | (161) |  | 78 |  | (644) |  | 669 |  | 617
Mining property |  |  | (124) |  | 3 |  | (8) |  | - |  | (129) |  | 66 |  | 74
Vehicles |  |  | (8) |  | 1 |  | (1) |  | - |  | (8) |  | 3 |  | 3
Furniture and fixtures and software equipment |  |  | (57) |  | 27 |  | (5) |  | - |  | (35) |  | 5 |  | 5
Communication equipments |  |  | (1) |  | - |  | - |  | - |  | (1) |  | - |  | -
Materials, spare parts and tools |  |  | (3) |  | - |  | - |  | - |  | (3) |  | 45 |  | 41
Petrochemical industrial complex |  |  | (22) |  | - |  | (4) |  | - |  | (26) |  | 14 |  | 10
Civil works |  |  | (1) |  | - |  | (2) |  | - |  | (3) |  | 59 |  | 23
Work in progress |  |  | - |  | - |  | - |  | - |  | - |  | 239 |  | 420
Advances to suppliers |  |  | - |  | - |  | - |  | - |  | - |  | 38 |  | 64
Total at 12.31.2024 |  |  | (1,625) |  | 57 |  | (336) |  | 121 |  | (1,783) |  | 2,607 |  |
Total at 12.31.2023 |  |  | (1,519) |  | 25 |  | (261) |  | 130 |  | (1,625) |  |  |  | 2,544
| (1) | As of December 31, 2024, the composition of the segments is as follows: Oil and gas US$ 236 million, Generation US$ 95 million; and Petrochemicals US$ 5 million.
Schedule of intangible assets |
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |
|  | Original values
Type of good |  | At the beginning |  |  | Increases |  | Decreases |  | Impairment (1) |  | At the end
Concession agreements |  | 2 |  |  | - |  | - |  | - |  | 2
Goodwill (2) |  | 35 |  |  | - |  | - |  | - |  | 35
Intangible identified in acquisitions of companies |  | 71 |  |  | - |  | - |  | - |  | 71
Digital assets |  | - |  |  | 3 |  | - |  | - |  | 3
Total at 12.31.2024 |  | 108 |  |  | 3 |  | - |  | - |  | 111
Total at 12.31.2023 |  | 145 |  |  | - |  | (39) |  | 2 |  | 108
|  | Amortization |  |
Type of good |  | At the beginning |  |  | For the year |  | Impairment |  | At the end |  |
Concession agreements |  | (2) |  |  | - |  | - |  | (2) |  |
Intangible identified in acquisitions of companies |  | (10) |  |  | (4) |  | - |  | (14) |  |
Total at 12.31.2024 |  | (12) |  |  | (4) |  | - |  | (16) |  |
Total at 12.31.2023 |  | (7) |  |  | (5) |  | - |  | (12) |  |
|  | Net book values |  |  |  |  |  |
Type of good |  | At 12.31.2024 |  |  | At 12.31.2023 |  |  |  |  |  |
Goodwill (2) |  | 35 |  |  | 35 |  |  |  |  |  |
Intangible identified in acquisitions of companies |  | 57 |  |  | 61 |  |  |  |  |  |
Digital assets |  | 3 |  |  | - |  |  |  |  |  |
Total at 12.31.2024 |  | 95 |  |  |  |  |  |  |  |  |
Total at 12.31.2023 |  |  |  |  | 96 |  |  |  |  |  |
(1) |  | Recoverable price based on the market value of digital assets.
(2) |  | Assigned to oil and gas segment.
Schedule of deferred tax assets and liabilities |
Schedule of deferred tax assets and liabilities |  |  |  |  |
| 12.31.2023 |  | Profit (Loss) |  | 12.31.2024
Tax loss carryforwards | 144 |  | (135) |  | 9
Property, plant and equipment | - |  | 210 |  | 210
Trade and other receivables | 1 |  | - |  | 1
Provisions | 53 |  | (4) |  | 49
Salaries and social security payable | 1 |  | - |  | 1
Defined benefit plans | 4 |  | 6 |  | 10
Taxes payables | - |  | 1 |  | 1
Trade and other payables | - |  | 1 |  | 1
Other | - |  | 1 |  | 1
Deferred tax asset | 203 |  | 80 |  | 283
Property, plant and equipment | (222) |  | 192 |  | (30)
Intangible assets | (34) |  | 2 |  | (32)
Investments in companies | (7) |  | (2) |  | (9)
Inventories | (45) |  | 9 |  | (36)
Financial assets at fair value through profit and loss | (18) |  | 14 |  | (4)
Trade and other receivables | (10) |  | 4 |  | (6)
Tax inflation adjustment | (163) |  | 105 |  | (58)
Other | (1) |  | 1 |  | -
Deferred tax liability | (500) |  | 325 |  | (175)
Deferred tax (liability) asset | (297) |  | 405 |  | 108
| 12.31.2022 |  | Profit (Loss) |  | Increases for incorporation |  | 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)
Schedule of deferred tax asset liability |
Schedule of deferred tax asset liability |  |  |
| 12.31.2024 |  | 12.31.2023
Deferred tax asset | 157 |  | -
Deferred tax liability | (49) |  | (297)
Deferred tax asset (liability) | 108 |  | (297)
Schedule of inventories |
Schedule of inventories |  |  |  |
|  | 12.31.2024 |  | 12.31.2023
Current |  |  |  |
Materials and spare parts |  | 160 |  | 129
Advances to suppliers |  | 6 |  | 4
In process and finished products |  | 57 |  | 72
Total (1) |  | 223 |  | 205
| (1) | It includes impairment loss as a result of the performed recoverability assessment for US$ 0.04 million and US$ 3 million as of December 31, 2024 and 2023, according with the policy described in Note 4.13.
Schedule of provisions |
Schedule of provisions |  |  |  |
|  | 12.31.2024 |  | 12.31.2023
Non-Current |  |  |  |
Contingencies |  | 95 |  | 109
Asset retirement obligation and wind turbines decommisioning |  | 25 |  | 26
Environmental remediation |  | 17 |  | 15
Total Non-Current |  | 137 |  | 150
Current |  |  |  |
Asset retirement obligation and wind turbines decommisioning |  | 5 |  | 3
Environmental remediation |  | 1 |  | 2
Other provisions |  | 4 |  | 1
Total Current |  | 10 |  | 6
Schedule of evolution of provisions |
Schedule of evolution of provisions |  |  |  |  |  |
|  | 12.31.2024
|  | Contingencies |  | Asset retirement obligation and decommisioning of wind turbines |  | Environmental remediation
At the beginning of the year |  | 109 |  | 29 |  | 17
Increases |  | 41 |  | 8 |  | 2
Decreases |  | (1) |  | - |  | -
Foreign currency exchange difference |  | (4) |  | - |  | -
Decrease due to sale of equity interests in areas |  | - |  | (1) |  | -
Reversal of unused amounts |  | (50) |  | (6) |  | (1)
At the end of the year |  | 95 |  | 30 |  | 18
|  | 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
Schedule of income tax and minimum notional income tax liability |
Schedule of income tax and minimum notional income tax liability |  |  |  |
|  | 12.31.2024 |  | 12.31.2023
Non-current |  |  |  |
Income tax |  | 69 |  | 50
Minimum notional income tax |  | 6 |  | 5
Total non-current |  | 75 |  | 55
Current |  |  |  |
Income tax, net of witholdings and advances |  | 257 |  | 17
Total current |  | 257 |  | 17
Schedule of tax liabilities |
Schedule of tax liabilities |  |  |  |
|  | 12.31.2024 |  | 12.31.2023
Current |  |  |  |
Value added tax |  | 3 |  | -
Personal assets tax provision |  | 10 |  | 3
Tax withholdings to be deposited |  | 8 |  | 3
Royalties |  | 6 |  | 6
Other |  | 3 |  | 2
Total current |  | 30 |  | 14
Schedule of benefit plans information |
Schedule of benefit plans information |  |  |  |  |
| 12.31.2024
| Present value of the obligation |  | Present value of assets |  | Net liability at the end of the year
At the beginning of the year | 23 |  | (4) |  | 19
Items classified in profit or loss |  |  |  |  |
Current services cost | 1 |  | - |  | 1
Interest cost | 32 |  | (6) |  | 26
Items classified in other comprehensive income |  |  |  |  |
Actuarial (gains) losses | (4) |  | 4 |  | -
Benefit payments | (3) |  | - |  | (3)
(Gains) Losses on exchange difference | (8) |  | 2 |  | (6)
At the end of the year | 41 |  | (4) |  | 37
| 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 losses (gains) | 7 |  | (2) |  | 5
Benefit payments | (3) |  | - |  | (3)
(Gains) Losses 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 losses | 9 |  | - |  | 9
Benefit payments | (3) |  | - |  | (3)
(Gains) Losses on exchange difference | (17) |  | 2 |  | (15)
At the end of the year | 38 |  | (4) |  | 34
Schedule of estimated expected benefits payments |
Schedule of estimated expected benefits payments |
| 12.31.2024
Less than one year | 7
One to two years | 4
Two to three years | 3
Three to four years | 3
Four to five years | 4
Six to ten years | 16
Schedule of significant actuarial assumptions |
Schedule of significant actuarial assumptions |  |  |  |  |
| 12.31.2024 |  | 12.31.2023 |  | 12.31.2022
Real discount rate | 5% |  | 5% |  | 5%
Real wage increase rate | 1% |  | 1% |  | 1%
Inflation rate | 29% |  | 156% |  | 118%
Schedule of sensitivity analysis effect of a variation |
Schedule of sensitivity analysis effect of a variation |
| 12.31.2024
Discount rate: 4% |
Obligation | 45
Variation | 4
| 10%
Discount rate: 6% |
Obligation | 38
Variation | (3)
| (8%)
Real wage increase rate: 0% |
Obligation | 40
Variation | (1)
| (4%)
Real wage increase rate: 2% |
Obligation | 43
Variation | 2
| 4%
Schedule of salaries and social security payable |
Schedule of salaries and social security payable |  |  |  |
|  | 12.31.2024 |  | 12.31.2023
Current |  |  |  |
Salaries and social security contributions |  | 6 |  | 3
Provision for vacations |  | 9 |  | 5
Provision for gratifications and annual bonus for efficiency |  | 24 |  | 11
Total current |  | 39 |  | 19

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