Argentina-based Compañía General de Combustibles S.A. (CGC) is engaged in hydrocarbons exploration and production, as well as gas distribution within Argentina and towards Chile and Brazil. CGC has interests in 12 oil and gas plays in Argentina and Venezuela. Proven reserves amount to 9,776Mm3, made up of 28.4% oil and 71.5% natural gas. CGC was founded in 1920 and is based in Buenos Aires. In 2015 the company took over from Petrobras Argentina S.A a 11,500sq mt concession area, with expiration terms from 2017 to 2037 and approximately 15,000boe/d output.