Oslo, 13 June 2023
This is a correction to the stock exchange notice published on 12 June at 20:49 CEST, reflecting that the increase in equity production is still pending completion of the transactions described in announcement on 26 May 2023.
| April 2023 | May 2023 | |||
| Operated | Boepd (1) | Bopd (2) | Boepd (1) | Bopd (2) |
| Colombia | 745 | 525 | 735 | 510 |
| Argentina | 1,591 | 194 | 1,793 | 253 |
| Total operated | 2,336 | 719 | 2,528 | 763 |
| Total equity | 601 | 352 | 610 | 346 |
(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
In May 2023, Interoil’s average daily operated production increased by 192 boepd compared to the previous month, where most of the additional production comes from the Argentinean operation where the austral winter issues where solved.
In Argentina, there is still some lost production, around 55 boepd, mostly from the Santa Cruz gas associated fields, where some gas compression spare-parts are still pending in the operation causing most of the lost production after an early arrival of a mild winter with strong winds. Interoil is working hard to provide the required compression spare parts to recover the remaining lost production. In relation to MMO, it should be mentioned that operations have reassumed, and oil storage is being sold domestically prior to start streaming production from the currently shut-in wells.
In Colombia, Puli C production experience a slight increase of 5 boepd as operations were reassumed after the community restrictions experience through April. In the Llanos area, Vikingo production flows decreased by 9.5 boepd following its natural depletion rate. 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.
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