Oslo, 22 May 2023
|March 2023||April 2023|
|Operated||Boepd (1)||Bopd (2)||Boepd (1)||Bopd (2)|
(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.
In March 2023, unfortunately Interoil’s average daily operated production decreased by 271 boepd where most of the lost production is related with operational issues in Argentina where the austral winter arrived sooner than expected. Fortunately, Colombia community distress situation was solved, and operations are slowly recovering to its previous figures.
In Argentina, production losses averaged some 350 boepd, mostly from the Santa Cruz fields, due to mild winter temperatures and strong winds causing most of the lost production. Interoil is working hard in solving significant surface production issues related with some obstruction in most of the hydrocarbon pipe network system connecting different gas fields among themselves.
In Colombia, Puli C production experience a slightly increase of 80 boepd as operation was slowly re-established after the community restrictions experience along April. Fortunately, production gradually resume alongside the oil trucking sale. In the Llanos area, Vikingo production flows remained stable following at 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.
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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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.