Property, plant and equipment

12 Months Ended

Dec. 31, 2025

Note 12. Property, plant and equipment

The changes in property, plant and equipment for the year ended December 31, 2025, are as follows:


	Land and buildings			Vehicles, machinery, facilities, computer hardware and furniture and fixtures			Oil and gas properties			Production wells and facilities			Works in progress			Materials and spare parts			Total
Cost
Amounts as of December 31, 2024		8,264			54,066			500,908			3,216,787			191,207			89,085			4,060,317
Additions		—			—			—			5,397	(1)		1,172,098			153,008			1,330,503
Additions of Farmout Agreement (2)		—			—			29,295			80,243			—			—			109,538
Incorporation through Business Combination (3)		—			867			570,092			1,043,763			385,249			55,546			2,055,517
Transfers		84			4,551			—			1,306,142			(1,149,562	)		(161,215	)		—
Disposals		—			(23	)		—			(1,730	)		—			—			(1,753	)
Impairment of long-lived assets (4)		(6	)		(549	)		(20,295	)		(21,997	)		(2,182	)		(226	)		(45,255	)

Amounts as of December 31, 2025		8,342			58,912			1,080,000			5,628,605			596,810			136,198			7,508,867


Accumulated depreciation
Amounts as of December 31, 2024		(232	)		(21,463	)		(101,791	)		(1,130,848	)		—			—			(1,254,334	)
Depreciation		—			(7,179	)		(70,769	)		(640,709	)		—			—			(718,657	)
Disposals		—			23			—			107			—			—			130
Impairment of long-lived assets (4)		—			421			1,341			5,264			—			—			7,026

Amounts as of December 31, 2025		(232	)		(28,198	)		(171,219	)		(1,766,186	)		—			—			(1,965,835	)


Net value

Amounts as of December 31, 2025		8,110			30,714			908,781			3,862,419			596,810			136,198			5,543,032

(1)	Related to the re-estimation of well plugging and abandonment (Note 22.1). This transaction did not generate cash flows.

(2)	See Note 1.2.1.

(3)	See Note 1.2.2 and 32.

(4)	See Note 3.2.2.

The changes in property, plant and equipment for the year ended December 31, 2024, are as follows:


	Land and buildings			Vehicles, machinery, facilities, computer hardware and furniture and fixtures			Oil and gas properties			Production wells and facilities			Works in progress			Materials and spare parts			Total
Cost
Amounts as of December 31, 2023		12,574			43,524			498,707			2,036,644			123,015			44,955			2,759,419
Additions		—			—			—			23,325	(1)		1,034,608			238,831			1,296,764
Transfers		(4,310	)		11,102			—			1,154,325			(966,416	)		(194,701	)		—
Disposals		—			(560	)		—			—			—			—			(560	)
Impairment of long-lived assets (2)		—			—			2,201			2,493			—			—			4,694

Amounts as of December 31, 2024		8,264			54,066			500,908			3,216,787			191,207			89,085			4,060,317


Accumulated depreciation
Amounts as of December 31, 2023		(232	)		(15,239	)		(80,655	)		(735,534	)		—			—			(831,660	)
Depreciation		—			(6,563	)		(21,044	)		(394,919	)		—			—			(422,526	)
Disposals		—			339			—			—			—			—			339
Impairment of long-lived assets (2)		—			—			(92	)		(395	)		—			—			(487	)

Amounts as of December 31, 2024		(232	)		(21,463	)		(101,791	)		(1,130,848	)		—			—			(1,254,334	)


Net value

Amounts as of December 31, 2024		8,032			32,603			399,117			2,085,939			191,207			89,085			2,805,983

(1)	Related to the re-estimation of well plugging and abandonment (Note 22.1). This transaction did not generate cash flows.

(2)	See Note 3.2.2.