Oslo, 24 November 2023
September 2023October 2023OperatedBoepd (1)Bopd (2)Boepd (1)Bopd (2)Colombia 688463632426Argentina2,0002532,065233Total operated2,6887162,697660Total equity1,3174101,313381
(1) Barrels of oil equivalents per day (includes liquid and gas)
(2) Barrels of oil per day (represents only liquids)
[boepd]: barrels of oil equivalents per day (includes liquid and gas)
[Operated]: 100% field production operated by Interoil
[Equity] : Interoil’s share production net of royalties.
Comments
Interoil daily average operated production experienced an immaterial reduction of 9.9 boepd when comparing September against October figures, where there is an improvement on the production figures coming from the Argentinean operations against a reduction from the Colombian ones.
In Argentina, the operated production increased by 67 boepd, mainly due to the reactivation of the pulling rig which started last month. Some operational issues continue to persist with one compressor where some spare parts are still pending to arrive at site due to paperwork delays at the Argentina’s customs office. In this regard, Interoil would like to emphasise there is also some delays on the reopening of the shut-in wells (according to our pulling program) as import to Argentina is taking longer time than expected. In MMO there is a 7.5 boepd incremental production as more wells are being reopened regardless the arrival of the pulling rig.
In Colombia, Puli C production experienced a reduction of 37 boepd due to downhole problems in some production strings in Mana wells plus a decrease on Vikingo surface production parameters. With respect to the Puli C pulling campaign, Interoil and its partner Ecopetrol, have decided to postpone the arrival of pulling rig due to potential unstable social activities in the surrounding areas in the past weeks. Ecopetrol and Interoil have jointly agree to address and settle any social request with local communities prior to mobilize any equipment to the operation aiming at minimizing unexpected operation costs should the local communities decide to manifest themselves once the pulling rig arrive sure site. In the Llanos area, Vikingo production flows decreased by 30 bopd following its natural depletion rate. The exploration campaign in Altair and LLA-47 blocks remains on hold pending approval from local authorities. Conversations with the ANH concerning the formal approval is still on hold waiting for the new authorities to take position.
Additional information
Further details about production performance are shown in the document attached. The two graphs and tables show operated and equity production of oil and gas respectively and by country. Operated production is defined as total output from fields operated by Interoil. Equity production is Interoil’s share of production net of royalties.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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Please direct any further questions to ir@interoil.no
Interoil Exploration and Production ASA is a Norwegian based exploration and production company – listed on the Oslo Stock Exchange with focus on Latin America. The Company is operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.
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