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Production report for March 2022

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Interoil Exploration & Production ASA
Interoil Exploration & Production ASA

Oslo, 20 April 2022

Below please find average gross operated production in March 2022 and corresponding numbers for February 2022.

IOX operated

March 2022

February 2022

Boepd(1)

Bopd (2)

Boepd(1)

Bopd (2)

Colombia

1,083

697

1,100

700

Argentina (3)

2,284

449

2,154

339

(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.


Comments

In March 2022, the average daily production from fields in Argentina and Colombia was 3,367 barrels of oil equivalents per day (boepd), compared with 3,254 boepd in February 2022.

Comparing operated daily average production in March with the previous month, there is a slight increase of 112 boepd mainly explained by the activity in Argentina, especially in the Santa Cruz (SC) operation.

In Argentina, the SC output production had an increase in their operated production mainly explained by some optimization in the maintenance of the surface equipment still being undertaken since the beginning of this year. Interoil is profiting of the long daylight hours of the austral summer to undertake surface treatment debottlenecking especially on the gas infrastructure. This maintenance programme is expected to last, at least, until the end of the Autumn season in the southern hemisphere.

In Mata Magallanes Oeste (MMO), Interoil is expecting the environmental approvals from local authorities to be confirmed in the coming weeks.

In Colombia, oil and gas production had an expected decrease in their production output mainly explained by the natural depletion of the field and some wells being off-line due to programmed maintenance work on the surface oil treatment system.

In the Llanos area, oil production in Vikingo continues its natural flowing depletion rate. The planned exploration campaign 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.

***************************

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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