Bridas Corporation
| Company type | Private |
|---|---|
| Industry | Oil and gas |
| Founded | 1948 |
| Founder | Bulgheroni family |
| Headquarters | Buenos Aires , Argentina |
Area served | Southern Cone of South America, Central Asia |
Key people | Carlos Bulgheroni (CEO) |
| Products | Exploration and development of hydrocarbon reserves; transportation, marketing, and sale of oil, gas, and petroleum derivatives; gas gathering, treatment, processing, distribution; power generation; drilling and well services |
| Owner | China National Offshore Oil Corporation (50%) |
Bridas Corporation is an independent oil and gas holding enterprise headquartered in Buenos Aires, Argentina. Since March 2010, ownership has been equally shared, with 50% held by China National Offshore Oil Corporation.
Operations
Established in 1948 by the Bulgheroni family, Bridas emerged as Argentina's second-largest producer of fossil fuels, trailing only the state-controlled YPF. By 2004, its production surpassed 78 million boe. The company concentrates its activities primarily within the Southern Cone of South America and Central Asia, managing four principal sectors:
- exploration and development of hydrocarbon reserves;
- transportation, marketing, and sale of oil, gas, and petroleum derivatives;
- gas gathering, treatment, processing, distribution, alongside power generation;
- provision of drilling and well-related services.
Trans-Afghanistan pipeline controversy
Beginning its involvement in Central Asia’s energy industry in 1987, Bridas obtained significant gas exploration concessions in Turkmenistan by 1992. Between 1995 and 1997, CEO Carlos Bulgheroni spearheaded discussions with Pakistan, Turkmenistan, and the Taliban concerning the Trans-Afghanistan Gas Pipeline. Competing against Unocal, Bridas secured the pipeline agreement in January 1998. Nevertheless, construction was postponed due to instability within Afghanistan. Despite ongoing conflict impeding progress, Bulgheroni reiterated commitment to the project in 2006.
Pan American Energy
In 1997, Bridas partnered with Amoco (currently BP) to establish the joint venture Pan American Energy, with BP owning 60% and Bridas holding 40%. In 2010, Bridas declared intentions to purchase BP’s 60% share for $7.06 billion in cash; however, this transaction was called off in 2011. Later, in September 2017, BP and Bridas combined their stakes in Pan American Energy and Axion Energy to form the jointly controlled Pan American Energy Group.