The development stages:In production - under development/2012-11.The Cerro Dragón field, covering an area of 3,400 square kilometers, currently produces 100.2 Mb/d of oil and 3.6Mm3/d of gas. Initially operated by YPF, in 1958 the field passed to Amoco and since 1997, it has been operated by Pan America Energy, which owns a 40-year concession for the land. Records show that Cerro Dragón reached a peak oil production of 9000 (Mb/d) in 1974, however in recent years production has averaged at about 7800. From 1999, in an effort to recover the prices of hydrocarbons and under the operation of PAE, a a long term growth plan was launched, resulting in a sustained increase in oil production at an approximate rate of 7% per annum.