Production report for February 2022

Oslo, 14 March 2022

Below please find average gross operated production in February 2022 and corresponding numbers for January 2022.

(1)   Barrels of oil equivalents per day (includes liquid and gas)
(2)   Barrels of oil per day (represents only liquids)
(3)   Operated by Selva Maria Oil on behalf of IOX until local authorities approve operator’s licence.


Comments

In February 2022, the average daily production from fields in Argentina and Colombia was 3,254 barrels of oil equivalents per day (boepd), a slight reduction by 103 boepd from January 2022.

The decrease in total daily average is explained mainly by a reduction of 197 boepd production in the Santa Cruz operation whereas Colombia increased its output by 94 boepd when compared with the previous month.

In Argentina, output is impacted by surface equipment maintenance being undertaken in most of the Santa Cruz operation during the long daylight hours of the austral summer plus the weak daily gas volumes requirement for our gas off-takers. This maintenance programme is expected to last, at least, until the end of the Autumn season in the southern hemisphere.

In Mata Magallanes Oeste (MMO), Interoil is expecting the environmental approvals from local authorities to be confirmed in the coming weeks.

In Colombia, oil and gas production rate in the Puli C field indicates that the reactivation has been achieved. Nevertheless, Interoil is already working on another pulling campaign aimed at opening new by-pass layers in some producing wells, especially in the Rio Opia Field.

In the Llanos area, oil production in Vikingo continues its natural flowing depletion rate. The planned exploration campaign in the Altair and LLA-47 blocks remains on hold and pending approval from authorities.

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 [email protected]

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.