Pan American Energy LLC engages in the exploration, development, and production of oil and gas in Argentina. The company, through its indirect subsidiary, Empresa Petrolera Chaco S.A., holds interests in 23 oil and gas production blocks, including 13 in Argentina and 10 in Bolivia. In addition, Pan American Energy holds interests in 15 exploration blocks. Its blocks are located in the four hydrocarbon basins, including Golfo San Jorge, Austral, Neuquen, and northwest in Argentina. The company also has interests in various portions of the oil and gas value chain, including pipelines, oil terminals, gas distribution, and power generation. As of December 6, 2005, it had reserves of 929 million barrels of oil and 7.1 Tcf of natural gas. The company is based in Buenos Aires, Argentina. Pan American Energy LLC is a subsidiary of BP Plc.