Production report for November 2021

Oslo, 16 December 2021

Below please find average gross operated production in November 2021 and corresponding numbers for October 2021.

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


Comments

In November, average daily production was 2,986 barrels of oil equivalents per day (boepd), compared to 2,896 boepd in October for Argentina and Colombia combined. The increase in total daily average is mainly a result of increased gas production in both Argentina and Colombia, while oil output in Colombia was reduced compared with the previous month.

In Argentina, oil production in the Moy Aike concession was slightly reduced due to some treatment issues related with conditioning oil production into commercial specs. On the gas side, the Oceano field had a reduction in its production related with the compression unit. On other fields, production remained stable despite some minor production problems related with the gas fuelling network which deeds the power generation units.

In Mata Magallanes Oeste (MMO) Covid-19 restrictions have been removed and arrangements are being made to restart the well intervention program.

In Colombia, and after having successfully resolved the strike in October, oil and gas production has been increasing as a result of the opening of the shut-in wells as they are intervened following the pulling program.

In the Llanos area, the Vikingo well production had to be kept closed due to operational problems in Perenco’s oil pipeline system. Start of the drilling campaign of exploration wells 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.