Production report for May 2022
Oslo, 10 June 2022
Below please find average gross operated production in May 2022 and corresponding numbers for April 2022.
| IOX operated | May 2022 | April 2022 | ||
| Boepd(1) | Bopd (2) | Boepd(1) | Bopd (2) | |
| Colombia | 994 | 640 | 1,027 | 642 |
| Argentina (3) | 2,326 | 370 | 1,875 | 402 |
(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 May 2022, the average daily production from fields in Argentina and Colombia combined was 3,320 barrels of oil equivalents per day (boepd), compared with 2,093 boepd in April 2022. Operated production showed a marked recovery from last month’s dip and is back on track to continued increase in production. The Argentina operation is currently the main focus, where there is still production to be opened, especially in the Santa Cruz operations.
Last month operated production increased by 417 boepd representing around 14 percent increment against previous month. This is largely explained by the Argentina operation, especially with regards to the Oceano Field in the Santa Cruz area.
In Argentina, all the Santa Cruz operated fields experienced a stable production flow mostly in lined with fields’ natural depletion, except for Oceano Field production where field work performed on the compressor unit allowing gas production to increase due to its new adjusted working configuration. In Mata Magallanes Oeste (MMO), Interoil is still waiting for the environmental authorities to grant approval after last month submitted additional paperwork.
In Colombia, Puli C production decreased also following its natural depletion rate except for Mana Field where unexpected failures in some surface production pumps decreased its overall daily production output. In the Llanos area, Vikingo’s production declined following its natural depletion curve. Exploration campaign in Altair and LLA-47 blocks remains on hold and pending approval from local authorities. Conversations with the ANH concerning the formal approval process are ongoing.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
+ + +
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.
