(Interoil, 12.Sep.2022) — In August 2022, the average daily operated production from fields in Argentina and Colombia combined decreased by 48 boepd representing a decline of less than two percent compared with July. This is explained by some operational changes in Argentina especially in the Santa Cruz operation.
In Argentina, a slight decrease in production rate was recorded in the Santa Cruz fields where the Oceano Field accounted for most of it. This is due to an ongoing gas compressor enhancement project which involves replacing its gas fuelled engine with an electrical one, and which means that Interoil will benefit from connecting to a new power generation unit already working in the Oceano Field. This field work is expected to last to the last week of September.
In Colombia, Puli C production increased from the previous month, especially in the Mana Field where some minor surface tie-in lines have been cleaned by removing internal paraffins and asphaltenes. In the Llanos area, Vikingo production flows remained stable following its natural depletion rate. The 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.
|August 2022||July 2022|
|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)
(3) Operated by Selva Maria Oil on behalf of IOX until local authorities approve operator’s licence.
[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.
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.