Oslo, 21 July 2024
| May 2024 | June 2024 | |||
| Operated | Boepd (1) | Bopd (2) | Boepd (1) | Bopd (2) |
| Colombia | 661 | 443 | 629 | 412 |
| Argentina | 1,662 | 284 | 1,090 | 185 |
| Total operated | 2,323 | 727 | 1,719 | 597 |
| Total equity | 1,154 | 411 | 885 | 348 |
(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's daily average operated production in June was 1,719 boepd, down 604 boepd compared with figures for May. June's daily operated production reduction in Colombia drop by 31 boepd (24%), while output from Argentinian fields was down by 571 boepd (76%) compared with the month prior.
In Argentina, the decrease in operated production stems mainly from the Santa Cruz fields, where harsh winter conditions impacted the Patagonian region with temperatures reaching 20°C below zero. These events blocked national routes and oilfield paths, and the local authorities issued roadblocks as a safety measure, making it difficult to access services and materials to the operations. The pulling rig and some oilfields had to be postponed, due to road access impediments and safety considerations. These extreme weather conditions are expected to continue during July. In Mata Magallanes Oeste (MMO), the monthly average production reached 25 bopd.
In Colombia, production in Puli C had a slight decrease of 8 boepd in line with natural reservoir depletion in Mana, Rio Opia and Ambrosia fields. The company is working with local communities in the Puli C surroundings aiming to grant their approval to initiate a pulling campaign to recover at least 100 bpd of oil and 500 Kscfpd of gas outflows. The Vikingo production experienced a production reduction of 23 bopd showing that its downhole equipment is experiencing a worn-out due to its current working parameters.
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.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
