# EDGAR Filing Document

**Accession Number:** 0001469395
**File Stem:** 0001292814-25-003383
**Filing Date:** 2025-9
**Character Count:** 151157
**Document Hash:** 67ab194f24ef323d948c095c0cfb9223
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001292814-25-003383.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001292814-25-003383

**CONFORMED SUBMISSION TYPE**: SD

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pampa Energy Inc.
- **CENTRAL INDEX KEY:** 0001469395
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** C1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SD
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34429
- **FILM NUMBER:** 251344888

**BUSINESS ADDRESS:**
- **STREET 1:** MAIPU 1
- **CITY:** CITY OF BUENOS AIRES
- **STATE:** C1
- **ZIP:** C1084ABA
- **BUSINESS PHONE:** 54-11-4809-9500

**MAIL ADDRESS:**
- **STREET 1:** MAIPU 1
- **CITY:** CITY OF BUENOS AIRES
- **STATE:** C1
- **ZIP:** C1084ABA

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

FORM SD

**SPECIALIZED DISCLOSURE REPORT**

**PAMPA ENERGIA S.A.**

(Exact name of registrant as specified in its charter)

**Republic of Argentina**

**(Jurisdiction of incorporation or organization)**

**001-34429**

**(Commission file number)**

**n/a**

**(I.R.S. Employer Identification No.)**

**Maipú 1**

**Ciudad Autónoma de Buenos Aires, Argentina**

**(Address of principal executive offices)**

**C1084ABA**

**(Zip code)**

**Horacio Jorge Tomás Turri**

**Tel.: (54-11) 4344-6000**

**(Name and telephone number, including area code, of the person to contact in connection with this report)**

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2024.

☒ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024.

**Section 1 - Conflicts Minerals Disclosure**

---

| | |
|:---|:---|
| **Item 1.01** | **Conflicts Minerals Disclosure and Report** |

---

*Not applicable.*

---

| | |
|:---|:---|
| **Item 1.02** | **Exhibit** |

---

*Not applicable.*

**Section 2 - Resource Extraction Issuer Disclosure**

---

| | |
|:---|:---|
| **Item 2.01** | **Resource Extraction Issuer Disclosure and Report** |

---

 

*Disclosure of Payments by Resource Extraction Issuers*

The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.

*Report on payments to governments for the year ended December 31, 2024*

This report provides a consolidated overview of the payments to the Federal Government and Foreign Governments (each, as defined in Form SD, and together "Governments") made by Pampa Energía S.A. ("Pampa") and its consolidated subsidiaries in relation with the commercial development of oil and natural gas for the fiscal year ended December 31, 2024. Unless the context requires otherwise, references in this report to the "Company," "Pampa," "we," "us" and "our" refer to Pampa and its consolidated subsidiaries. References to "dollars", "U.S. dollars", "U.S. dollar" or "US$" are to United States dollars, and references to "peso", "pesos" or "Ps." are to Argentine pesos.

All payments are reported in U.S. dollars, which is the presentation currency of our consolidated financial statements. Payments that were made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rate applicable as detailed in Exhibit 2.01.

**Oil and Gas business segment** 

We are engaged in the oil and gas business through the exploration and exploitation of oil and gas properties located in Argentina, with operations in 11 production blocks, 2 exploratory blocks and 688 productive wells. The Company is the fifth-largest gas producer in Argentina with 9% of the country's gas output, and the fourth-largest shale gas producer in Argentina with 8% market share.

&nbsp;&nbsp;&nbsp;&nbsp;· As of December
31, 2024, our combined crude oil and natural gas proved reserves amounted to approximately 231.2 million boe, 55% of which were proved
developed reserves. Natural gas accounted for approximately 93% of our combined proved reserves and liquid hydrocarbons for 7%. 57% of
our combined proved reserves come from shale formations, mainly in Sierra Chata, El Mangrullo and Rincón de Aranda; and

&nbsp;&nbsp;&nbsp;&nbsp;· As of December
31, 2024, our combined oil and gas production in Argentina averaged 78.2 thousand boe per day. Crude oil accounted for approximately
4.8 thousand boe per day, while natural gas accounted for approximately 73.4 thousand boe per day.

 

*Our projects*

This report discloses the payments made by us to Governments for the commercial development of oil and natural gas and which involves the exploration, development and extraction of crude oil and natural gas.

We organize our operations into 11 productive and 2 exploratory blocks, i.e., areas defined by concession contracts or operating contracts signed by Pampa. Where activities related to one of the blocks cross the borders of a major subnational political jurisdiction, we have disclosed payments for such block as separate projects segregated per major subnational political jurisdiction. We also export oil and gas, mainly to the Republic of Chile.

 

**Section 3 - Exhibits**

---

| | |
|:---|:---|
| **Item 3.01** | **Exhibits** |

---

The following exhibit is filed as part of this report on Form SD.

Exhibit 2.01 – Resource Extraction Payment Report

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.

---

| |
|:---|
| PAMPA ENERGÍA S.A. |
| By: /s/ Gustavo Mariani |
| Name: Gustavo Mariani |
| Title: Chief Executive Officer |

---

Dated: September 25, 2025

## Exhibit 99.1

**<u>Resource Extraction Payment Report</u>**

**Project-level disclosure**

The table below sets forth our payments made to governments for the fiscal year ended December 31, 2024, by project and type of payment.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1) (2)*** |
|  | **Taxes** | **Royalties** | **Fees** | **Production<br> Entitlements** | **Bonuses** | **Dividends** | **Payments for<br> infrastructure<br> improvements** | **Community and social responsibility<br> payments** | **Total** |
| Gobernador Ayala | 207 | 2571 |  |  |  |  |  |  | **2778** |
| Rio Neuquén | 1085 | 9752 | 326 |  |  |  |  |  | **11163** |
| El Mangrullo | 4465 | 45089 | 415 |  |  |  |  |  | **49969** |
| Rincón de Aranda | 195 | 2434 | 132 |  |  |  |  |  | **2761** |
| Rincón el Mangrullo | 142 | 1253 |  |  |  |  |  |  | **1395** |
| Parva Negra |  |  | 122 |  |  |  |  |  | **122** |
| Sierra Chata | 1964 | 18095 | 744 |  |  |  |  |  | **20803** |
| El Tordillo | 690 | 4962 | 1654 |  |  |  |  |  | **7306** |
| Puesto Quiroga |  | 214 |  |  |  |  |  |  | **214** |
| Aguarague | 207 | 1243 | 283 |  |  |  |  |  | **1733** |
| Las Tacanas Norte |  |  |  |  |  |  |  |  | **-** |
| Chirete |  | 293 |  |  |  |  |  |  | **293** |
| Oil and Gas Exports | 8668 | - | - | - | - | - | - |  | **8668** |
| **Total** | **17623** | **85906** | **3676** | **-** | **-** | **-** | - | - | **107205** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) All payments are reported in U.S. dollars. Payments relating to projects in Argentina were
made in Argentinean Pesos, and such payments have been converted to U.S. dollars using, except for Taxes other than Taxes for Oil and
Gas Exports, the sellers *"divisa"* exchange rates of the *Banco de la Nación Argentina* as of closing of
the day before of each payment. For all Taxes other than Taxes for Oil and Gas Exports, the sellers *"divisa"* exchange
rate published by the *Banco de la Nación Argentina* as of December 31, 2024 of Pesos 1,032.00 per US dollar was used to make
such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Sums are rounded, so they may not add up.

------

**Government-level disclosure**

The table below sets forth our payments made to governments for the fiscal year ended December 31, 2024, by government and type of payment.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** | **For the year ended December 31, 2024**<br> ***(U.S.$ thousand)*** ***(1)*** |
|  | **Taxes** | **Royalties** | **Fees** | **Production<br> Entitlements** | **Bonuses** | **Dividends** | **Payments for<br> infrastructure<br> improvements** | **Community and social responsibility<br> payments** | **Total** |
| **Argentina** |  |  |  |  |  |  |  |  |  |
| Argentinean Federal Government | 8668 |  |  |  |  |  |  |  | **8668** |
| **Local Governments** |  |  |  |  |  |  |  |  |  |
| City of Buenos Aires | 399 |  |  |  |  |  |  |  | **399** |
| Province of Buenos Aires | 1004 |  |  |  |  |  |  |  | **1004** |
| Province of Chubut | 789 | 5176 | 1654 |  |  |  |  |  | **7619** |
| Province of Mendoza | 233 | 2571 |  |  |  |  |  |  | **2804** |
| Province of Neuquén | 5472 | 76500 | 1739 |  |  |  |  |  | **83711** |
| Province of Rio Negro | 150 | 123 |  |  |  |  |  |  | **273** |
| Province of Salta | 525 | 1536 | 283 |  |  |  |  |  | **2344** |
| Province of Santa Fe | 383 | - | - | - | - |  | - | - | **383** |
| **Total** | **17623** | **85906** | **3676** | - | **-** |  | **-** | **-** | **107205** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) All payments are reported in U.S. dollars. Payments relating to projects in Argentina were made in
 Argentinean Pesos, and such payments have been converted to U.S. dollars using, except for Taxes other than Taxes for Oil and Gas
 Exports, the sellers *"divisa"* exchange rates of the *Banco de la Nación Argentina* as of closing of
 the day before of each payment. For all Taxes other than Taxes for Oil and Gas Exports, the sellers *"divisa"* exchange rate published by the *Banco de la Nación Argentina* as of December 31, 2024 of Pesos 1,032.00 per US dollar
 was used to make such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Sums are rounded, so they may not add up.

------

**Payment details disclosure**

The table below provides the details of payments made to governments for the fiscal year ended December 31, 2024.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **For the year ended December 31, 2024** | **For the year ended December 31, 2024** | **For the year ended December 31, 2024** | **For the year ended December 31, 2024** | **For the year ended December 31, 2024** | **For the year ended December 31, 2024** |
| **Subnational Jurisdiction** | **Government** | **Business segment** | **Projects** | **Resource** | **Amount**<br> ***(U.S.$ thousand)*** ***(1)*** |
| Argentinean Federal Government | Argentinean Federal Government | All | Pampa Energía S.A. (2) | N/A | **-** |
| Argentinean Federal Government | Argentinean Federal Government | Oil and Gas | Exports | Oil and Gas | **8668** |
| City of Buenos Aires | Government of the City of Buenos Aires | Oil and Gas | N/A (3) | Oil and Gas | **399** |
| Province of Buenos Aires | Government of Buenos Aires | Oil and Gas | N/A (3) | Oil and Gas | **1004** |
| Province of Chubut | Government of Chubut | Oil and Gas | El Tordillo – Puesto Quiroga | Oil and Gas | **7619** |
| Province of Mendoza | Government of Mendoza | Oil | Gobernador Ayala | Oil | **2804** |
| Province of Neuquén | Government of Neuquén | Oil and Gas | El Mangrullo – Rincón de Aranda – Río Neuquén – Rincón del Mangrullo – Parva Negra – Sierra Chata – Las Tacanas Norte | Oil and Gas | **83711** |
| Province of Rio Negro | Government of Rio Negro | Oil and Gas | Rio Neuquén | Oil and Gas | **273** |
| Province of Salta | Government of Salta | Oil and Gas | Aguarague - Chirete | Oil and Gas | **2344** |
| Province of Santa Fe | Government of Santa Fe | Oil and Gas | N/A (3) | Oil and Gas | **383** |
| **Total** | **Total** | **Total** | **Total** | **Total** | **107205** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) All payments are reported in U.S. dollars. Payments relating to projects in Argentina were made in
 Argentinean Pesos, and such payments have been converted to U.S. dollars using, except for Taxes other than Taxes for Oil and Gas
 Exports, the sellers *"divisa"* exchange rates of the *Banco de la Nación Argentina* as of closing of
 the day before of each payment. For all Taxes other than Taxes for Oil and Gas Exports, the sellers *"divisa"* exchange rate published by the *Banco de la Nación Argentina* as of December 31, 2024 of Pesos 1,032.00 per US dollar
 was used to make such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company files a consolidated income tax return in Argentina. The Argentinean Federal Government
 levies corporate income taxes at the consolidated group level rather than on a per-project basis. The Company has made payments of
 transaction taxes related with the commercial development of oil and gas as operator of joint ventures for under the amount of
 U.S.$. 100 thousand.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Local jurisdictions impose gross income taxes, even tough there in no project located in
such jurisdiction. Amounts stated are related with gross income tax imposed by jurisdictions related with commercial development of oil
and gas at a company level.

------

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    <rxp:R contextRef="From2024-01-01to2024-12-31_19">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_20">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_21">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_22">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_23">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_24">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_25">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_26">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_27">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_28">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_29">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_30">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_31">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_32">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_33">PAM:OilMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_34">PAM:OilMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_35">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_36">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_37">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_38">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_39">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_40">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_41">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_42">PAM:OilAndGasMember</rxp:R>
    <rxp:R contextRef="From2024-01-01to2024-12-31_43">PAM:OilAndGasMember</rxp:R>
    <rxp:M contextRef="From2024-01-01to2024-12-31_1">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_2">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_3">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_4">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_5">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_6">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_7">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_8">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_9">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_10">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_11">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_12">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_13">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_14">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_15">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_16">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_17">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_18">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_19">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_20">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_21">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_22">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_23">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_24">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_25">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_26">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_27">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_28">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_29">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_30">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_31">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_32">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_33">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_34">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_35">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_36">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_37">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_38">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_39">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_40">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_41">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_42">Well</rxp:M>
    <rxp:M contextRef="From2024-01-01to2024-12-31_43">Well</rxp:M>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_1">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_2">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_3">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_4">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_5">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_6">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_7">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_8">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_9">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_10">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_11">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_12">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_13">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_14">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_15">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_16">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_17">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_18">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_19">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_20">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_21">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_22">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_23">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_24">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_25">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_26">country:AR</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_27">PAM:ArgentineanFederalGovernmentMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_28">PAM:LocalGovernmentsCityOfBuenosAiresMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_29">PAM:LocalGovernmentsProvinceOfBuenosAiresMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_30">PAM:LocalGovernmentsProvinceOfChubutMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_31">PAM:LocalGovernmentsProvinceOfChubutMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_32">PAM:LocalGovernmentsProvinceOfChubutMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_33">PAM:LocalGovernmentsProvinceOfMendozaMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_34">PAM:LocalGovernmentsProvinceOfMendozaMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_35">PAM:LocalGovernmentsProvinceOfNeuquenMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_36">PAM:LocalGovernmentsProvinceOfNeuquenMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_37">PAM:LocalGovernmentsProvinceOfNeuquenMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_38">PAM:LocalGovernmentsProvinceOfRioNegroMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_39">PAM:LocalGovernmentsProvinceOfRioNegroMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_40">PAM:LocalGovernmentsProvinceOfSaltaMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_41">PAM:LocalGovernmentsProvinceOfSaltaMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_42">PAM:LocalGovernmentsProvinceOfSaltaMember</rxp:Gv>
    <rxp:Gv contextRef="From2024-01-01to2024-12-31_43">PAM:LocalGovernmentsProvinceOfSantaFeMember</rxp:Gv>
    <rxp:Sn contextRef="From2024-01-01to2024-12-31_27">country:AR</rxp:Sn>
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    <rxp:Sg contextRef="From2024-01-01to2024-12-31_27">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_28">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_29">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_30">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_31">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_32">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_33">PAM:SegmentOilMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_34">PAM:SegmentOilMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_35">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_36">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_37">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_38">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_39">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_40">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_41">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_42">PAM:SegmentOilAndGasMember</rxp:Sg>
    <rxp:Sg contextRef="From2024-01-01to2024-12-31_43">PAM:SegmentOilAndGasMember</rxp:Sg>
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      <link:loc xlink:type="locator" xlink:href="#Foot-00-58" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-59" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-60" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-61" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-62" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-63" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-64" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-65" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-66" xlink:label="Foot-00_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-00-67" xlink:label="Foot-00_loc" />
      <link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Foot-00_loc" xlink:to="Footnote-01" order="1" />
      <link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Foot-00_loc" xlink:to="Footnote-02" order="2" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-0" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-1" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-2" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-3" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-4" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-5" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-6" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-7" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-8" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-9" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-10" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-11" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-12" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-13" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-14" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-15" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-16" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-17" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-18" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-19" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-20" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-21" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-22" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-23" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-24" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-25" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-26" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-27" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-28" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-29" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-30" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-31" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-32" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-33" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-34" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-35" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-36" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-37" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-38" xlink:label="Foot-01_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-01-39" xlink:label="Foot-01_loc" />
      <link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Foot-01_loc" xlink:to="Footnote-01" order="1" />
      <link:loc xlink:type="locator" xlink:href="#Foot-02-0" xlink:label="Foot-02_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-02-1" xlink:label="Foot-02_loc" />
      <link:loc xlink:type="locator" xlink:href="#Foot-02-2" xlink:label="Foot-02_loc" />
      <link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Foot-02_loc" xlink:to="Footnote-01" order="1" />
      <link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Foot-02_loc" xlink:to="Footnote-03" order="2" />
      <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:label="Footnote-01" xml:lang="en-US">All payments are reported in U.S. dollars. Payments relating to projects in Argentina were made in Argentinean Pesos, and such payments have been converted to U.S. dollars using, except for Taxes other than Taxes for Oil and Gas Exports, the sellers “divisa” exchange rates of the Banco de la Nación Argentina as of closing of the day before of each payment. For all Taxes other than Taxes for Oil and Gas Exports, the sellers “divisa” exchange rate published by the Banco de la Nación Argentina as of December 31, 2024 of Pesos 1,032.00 per US dollar was used to make such conversion.</link:footnote>
      <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:label="Footnote-02" xml:lang="en-US">Sums are rounded, so they may not add up.</link:footnote>
      <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:label="Footnote-03" xml:lang="en-US">Local jurisdictions impose gross income taxes, even tough there in no project located in such jurisdiction. Amounts stated are related with gross income tax imposed by jurisdictions related with commercial development of oil and gas at a company level.</link:footnote>
    </link:footnoteLink>
</xbrli:xbrl>
</XBRL>

```

## Exhibit 2.01

```

<XBRL>
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            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_RioNeuquenMember" xlink:label="PAM_RioNeuquenMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_RioNeuquenMember" xlink:to="PAM_RioNeuquenMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_RioNeuquenMember_lbl" xml:lang="en-US">Rio Neuquén</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_ElMangrulloMember" xlink:label="PAM_ElMangrulloMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_ElMangrulloMember" xlink:to="PAM_ElMangrulloMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_ElMangrulloMember_lbl" xml:lang="en-US">El Mangrullo</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_RinconDeArandaMember" xlink:label="PAM_RinconDeArandaMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_RinconDeArandaMember" xlink:to="PAM_RinconDeArandaMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_RinconDeArandaMember_lbl" xml:lang="en-US">Rincón de Aranda</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_RinconElMangrulloMember" xlink:label="PAM_RinconElMangrulloMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_RinconElMangrulloMember" xlink:to="PAM_RinconElMangrulloMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_RinconElMangrulloMember_lbl" xml:lang="en-US">Rincón el Mangrullo</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_ParvaNegraMember" xlink:label="PAM_ParvaNegraMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_ParvaNegraMember" xlink:to="PAM_ParvaNegraMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_ParvaNegraMember_lbl" xml:lang="en-US">Parva Negra</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_SierraChataMember" xlink:label="PAM_SierraChataMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_SierraChataMember" xlink:to="PAM_SierraChataMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_SierraChataMember_lbl" xml:lang="en-US">Sierra Chata</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_ElTordilloMember" xlink:label="PAM_ElTordilloMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_ElTordilloMember" xlink:to="PAM_ElTordilloMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_ElTordilloMember_lbl" xml:lang="en-US">El Tordillo</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_PuestoQuirogaMember" xlink:label="PAM_PuestoQuirogaMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_PuestoQuirogaMember" xlink:to="PAM_PuestoQuirogaMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_PuestoQuirogaMember_lbl" xml:lang="en-US">Puesto Quiroga</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_AguaragueMember" xlink:label="PAM_AguaragueMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_AguaragueMember" xlink:to="PAM_AguaragueMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_AguaragueMember_lbl" xml:lang="en-US">Aguarague</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_ChireteMember" xlink:label="PAM_ChireteMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_ChireteMember" xlink:to="PAM_ChireteMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_ChireteMember_lbl" xml:lang="en-US">Chirete</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_OilAndGasExportsMember" xlink:label="PAM_OilAndGasExportsMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_OilAndGasExportsMember" xlink:to="PAM_OilAndGasExportsMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_OilAndGasExportsMember_lbl" xml:lang="en-US">Oil and Gas Exports</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_ArgentineanFederalGovernmentMember" xlink:label="PAM_ArgentineanFederalGovernmentMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_ArgentineanFederalGovernmentMember" xlink:to="PAM_ArgentineanFederalGovernmentMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_ArgentineanFederalGovernmentMember_lbl" xml:lang="en-US">Argentinean Federal Government</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsCityOfBuenosAiresMember" xlink:label="PAM_LocalGovernmentsCityOfBuenosAiresMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsCityOfBuenosAiresMember" xlink:to="PAM_LocalGovernmentsCityOfBuenosAiresMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsCityOfBuenosAiresMember_lbl" xml:lang="en-US">City of Buenos Aires</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfBuenosAiresMember" xlink:label="PAM_LocalGovernmentsProvinceOfBuenosAiresMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfBuenosAiresMember" xlink:to="PAM_LocalGovernmentsProvinceOfBuenosAiresMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfBuenosAiresMember_lbl" xml:lang="en-US">Province of Buenos Aires</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfChubutMember" xlink:label="PAM_LocalGovernmentsProvinceOfChubutMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfChubutMember" xlink:to="PAM_LocalGovernmentsProvinceOfChubutMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfChubutMember_lbl" xml:lang="en-US">Province of Chubut</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfMendozaMember" xlink:label="PAM_LocalGovernmentsProvinceOfMendozaMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfMendozaMember" xlink:to="PAM_LocalGovernmentsProvinceOfMendozaMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfMendozaMember_lbl" xml:lang="en-US">Province of Mendoza</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfNeuquenMember" xlink:label="PAM_LocalGovernmentsProvinceOfNeuquenMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfNeuquenMember" xlink:to="PAM_LocalGovernmentsProvinceOfNeuquenMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfNeuquenMember_lbl" xml:lang="en-US">Province of Neuquén</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfRioNegroMember" xlink:label="PAM_LocalGovernmentsProvinceOfRioNegroMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfRioNegroMember" xlink:to="PAM_LocalGovernmentsProvinceOfRioNegroMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfRioNegroMember_lbl" xml:lang="en-US">Province of Rio Negro</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfSaltaMember" xlink:label="PAM_LocalGovernmentsProvinceOfSaltaMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfSaltaMember" xlink:to="PAM_LocalGovernmentsProvinceOfSaltaMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfSaltaMember_lbl" xml:lang="en-US">Province of Salta</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LocalGovernmentsProvinceOfSantaFeMember" xlink:label="PAM_LocalGovernmentsProvinceOfSantaFeMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LocalGovernmentsProvinceOfSantaFeMember" xlink:to="PAM_LocalGovernmentsProvinceOfSantaFeMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LocalGovernmentsProvinceOfSantaFeMember_lbl" xml:lang="en-US">Province of Santa Fe</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_LasTacanasNorteMember" xlink:label="PAM_LasTacanasNorteMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_LasTacanasNorteMember" xlink:to="PAM_LasTacanasNorteMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_LasTacanasNorteMember_lbl" xml:lang="en-US">Las Tacanas Norte</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_AR" xlink:label="country_AR" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_AR" xlink:to="country_AR_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_AR_lbl" xml:lang="en-US">ARGENTINA</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_OilAndGasMember" xlink:label="PAM_OilAndGasMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_OilAndGasMember" xlink:to="PAM_OilAndGasMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_OilAndGasMember_lbl" xml:lang="en-US">Oil and Gas</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_OilMember" xlink:label="PAM_OilMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_OilMember" xlink:to="PAM_OilMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_OilMember_lbl" xml:lang="en-US">Oil</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-C" xlink:label="snj_AR-C" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-C" xlink:to="snj_AR-C_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-C_lbl" xml:lang="en-US">Ciudad AutÃ³noma de Buenos Aires</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-B" xlink:label="snj_AR-B" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-B" xlink:to="snj_AR-B_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-B_lbl" xml:lang="en-US">Buenos Aires</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-U" xlink:label="snj_AR-U" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-U" xlink:to="snj_AR-U_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-U_lbl" xml:lang="en-US">Chubut</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-M" xlink:label="snj_AR-M" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-M" xlink:to="snj_AR-M_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-M_lbl" xml:lang="en-US">Mendoza</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-Q" xlink:label="snj_AR-Q" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-Q" xlink:to="snj_AR-Q_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-Q_lbl" xml:lang="en-US">NeuquÃ©n</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-R" xlink:label="snj_AR-R" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-R" xlink:to="snj_AR-R_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-R_lbl" xml:lang="en-US">RÃo Negro</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-A" xlink:label="snj_AR-A" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-A" xlink:to="snj_AR-A_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-A_lbl" xml:lang="en-US">Salta</link:label>
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_AR-S" xlink:label="snj_AR-S" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="snj_AR-S" xlink:to="snj_AR-S_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="snj_AR-S_lbl" xml:lang="en-US">Santa Fe</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_SegmentOilAndGasMember" xlink:label="PAM_SegmentOilAndGasMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_SegmentOilAndGasMember" xlink:to="PAM_SegmentOilAndGasMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_SegmentOilAndGasMember_lbl" xml:lang="en-US">Oil and Gas.</link:label>
            <link:loc xlink:type="locator" xlink:href="pam-20241231.xsd#PAM_SegmentOilMember" xlink:label="PAM_SegmentOilMember" />
            <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PAM_SegmentOilMember" xlink:to="PAM_SegmentOilMember_lbl" xlink:type="arc" />
            <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="PAM_SegmentOilMember_lbl" xml:lang="en-US">Oil.</link:label>
          </link:labelLink>
          <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#PaymentTypesOnly" roleURI="http://xbrl.sec.gov/rxp/role/PaymentTypesOnly" />
          <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#SegmentsOnly" roleURI="http://xbrl.sec.gov/rxp/role/SegmentsOnly" />
          <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#EntitiesOnly" roleURI="http://xbrl.sec.gov/rxp/role/EntitiesOnly" />
          <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#ProjectsOnly" roleURI="http://xbrl.sec.gov/rxp/role/ProjectsOnly" />
          <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#GovernmentsOnly" roleURI="http://xbrl.sec.gov/rxp/role/GovernmentsOnly" />
          <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#ResourcesOnly" roleURI="http://xbrl.sec.gov/rxp/role/ResourcesOnly" />
          <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
          <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
          <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
          <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
          <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
          <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
          <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/GovernmentsOnly">
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#rxp_AllGovernmentsMember" xlink:label="loc_rxpAllGovernmentsMember" />
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_AR" xlink:label="loc_countryAR" />
            <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_rxpAllGovernmentsMember" xlink:to="loc_countryAR" xlink:type="arc" order="1000" />
          </link:definitionLink>
          <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/SegmentsOnly">
            <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd#rxp_AllSegmentsMember" xlink:label="loc_rxpAllSegmentsMember" />
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      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2024" schemaLocation="https://xbrl.sec.gov/dei/2024/dei-2024.xsd" />
    <import namespace="http://xbrl.sec.gov/rxp/2024q3" schemaLocation="https://xbrl.sec.gov/rxp/2024q3/rxp-2024q3.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2022-03-31" schemaLocation="https://www.xbrl.org/dtr/type/2022-03-31/types.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2024" schemaLocation="https://xbrl.sec.gov/country/2024/country-2024.xsd" />
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    <element id="PAM_RioNeuquenMember" name="RioNeuquenMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_ElMangrulloMember" name="ElMangrulloMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_RinconDeArandaMember" name="RinconDeArandaMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_RinconElMangrulloMember" name="RinconElMangrulloMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_ParvaNegraMember" name="ParvaNegraMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_SierraChataMember" name="SierraChataMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_ElTordilloMember" name="ElTordilloMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_PuestoQuirogaMember" name="PuestoQuirogaMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_AguaragueMember" name="AguaragueMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LasTacanasNorteMember" name="LasTacanasNorteMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_ChireteMember" name="ChireteMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_OilAndGasExportsMember" name="OilAndGasExportsMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_ArgentineanFederalGovernmentMember" name="ArgentineanFederalGovernmentMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsCityOfBuenosAiresMember" name="LocalGovernmentsCityOfBuenosAiresMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfBuenosAiresMember" name="LocalGovernmentsProvinceOfBuenosAiresMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfChubutMember" name="LocalGovernmentsProvinceOfChubutMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfMendozaMember" name="LocalGovernmentsProvinceOfMendozaMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfNeuquenMember" name="LocalGovernmentsProvinceOfNeuquenMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfRioNegroMember" name="LocalGovernmentsProvinceOfRioNegroMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfSaltaMember" name="LocalGovernmentsProvinceOfSaltaMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_LocalGovernmentsProvinceOfSantaFeMember" name="LocalGovernmentsProvinceOfSantaFeMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_OilAndGasMember" name="OilAndGasMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_OilMember" name="OilMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_SegmentOilAndGasMember" name="SegmentOilAndGasMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
    <element id="PAM_SegmentOilMember" name="SegmentOilMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
</schema>
</XBRL>

```