Interoil Exploration & Production ASA: Argentina operational up-date

Oslo, 10 Mai 2021

Interoil is pleased to announce that Velitec’s Work Over rig has been mobilized, fully rigged-up, certified and has started operation in the MMO-15 well in the Mata Magallanes Oeste (MMO) field in Argentina.

The work-over program in this well is forecast to last 19 days which includes retrieving existing production string, run through casing wireline logs (validate behind casing oil and gas layers), open new hydrocarbon layers and test each of them independently to verify fluids quantities and flowing plus shut-in pressures. Then, a new completion string will be installed to leave the well in production.

Based on the latest analysis, Interoil is expecting MMO-15 to flow oil and gas where, as described in several recent announcements from the company, the produced gas will be used to fuel MMO surface production equipment to be able to treat oil volumes to be sold under commercial specs.

Leandro Carbone, CEO, commented: “We are confident production from MMO-15 would boost MMO field production and capitalized value for the benefits of the company.

Contact: ir@interoil.no

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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 the operator of several production and exploration assets in Colombia. Interoil currently employs approximately 70 people and is headquartered in Oslo.