Trade and other receivables

12 Months Ended

Dec. 31, 2025

Note 16. Trade and other receivables


	As of December 31, 2025		As of December 31, 2024
Noncurrent
Other receivables:
Prepayments, tax receivables and other:
Advance payments for transportation services (Note 28.1.1)		311,087		134,436
Receivables related to the transfer of conventional assets (1)		40,945		57,194
Prepaid expenses and other receivables		19,409		11,820
Income tax		785		—
Turnover tax		670		164

		372,896		203,614

Financial assets:
Loans to employees		130		411
Receivables from joint operations		—		1,243

		130		1,654

Total noncurrent trade and other receivables		373,026		205,268


	As of December 31, 2025		As of December 31, 2024
Current
Trade:
Oil, gas and GLP accounts receivable (net of allowance for expected credit losses)		186,403		77,351

		186,403		77,351

Other receivables :
Prepayments, tax credits and other:
Value added tax		77,160		90,704
Advance payments for transportation services (Note 28.1.1)		26,098		7,054
Receivables related to the transfer of conventional assets (1)		23,984		46,018
Income tax		9,283		4,431
Prepaid expenses and other receivables		7,253		9,322


	As of December 31, 2025		As of December 31, 2024
Turnover tax		3,047		2,867

		146,825		160,396

Financial assets:
Accounts receivable from third parties (2)		9,404		29,040
Gas IV Plan (Note 2.5.3)		2,316		3,007
Receivables from joint operations		1,368		5,586
Advances to directors and loans to employees		1,033		742
Balances with related parties (Note 27)		—		4,741
Other		332		632

		14,453		43,748

Other receivables		161,278		204,144

Total current trade and other receivables		347,681		281,495

(1)	See Note 3.2.8.

(2)	As of December 31, 2024 includes 13,200 with Tango, related to the extension of the concessions (Note 28.1.2).

Due to the short-term nature of current trade and other receivables, it carrying amount is considered similar to its fair value. The fair values of noncurrent trade and other receivables do not differ significantly from it carrying amounts either.

As of December 31, 2025, in general accounts receivable has a

20-day

term for sales of crude oil and a

51-day

term for sales of natural gas and LPG.

The Company sets up a provision for trade receivables when there is information showing that the debtor is facing severe financial difficulties and that there is no realistic probability of recovery, for example, when the debtor goes into liquidation or files for bankruptcy proceedings. Trade receivables that are derecognized are not subject to compliance activities. The Company recognized an allowance for expected credit losses against all trade receivables that are 90 days past due because based on its history these receivables are generally not recovered.

As of December 31, 2025 and 2024, the provision for expected credit losses was recorded for 70 and 41 respectively.

The changes in the provision for expected credit losses of trade and other receivables are as follows:


	As of December 31, 2025			As of December 31, 2024			As of December 31, 2023
Amounts at beginning of year		(41	)		(52	)		(231	)
Allowances for expected credit losses (Note 7)		(44	)		—			—
Foreign exchange differences		15			11			179

Amounts at end of year		(70	)		(41	)		(52	)

As of the date of these consolidated financial statements, maximum exposure to credit risk is related to the carrying amount of each class of accounts receivable.