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Production report for May 2021

·2-min read

18 June 2021

Below please find average gross operated production in May 2021 and corresponding numbers for April 2021.

IOX operated

May 2021

April 2021

Boepd(1)

Bopd (2)

Boepd(1)

Bopd (2)

Colombia

748

492

832

576

Argentina (3)

2,559

338

2,609

317

(1) Barrels of oil equivalents per day
(2) Barrels of oil per day
(3) Operated by Selva Maria Oil on behalf of IOX until local authorities approve operator’s licence.


Comments

In May, total daily production was 3,307 barrels of oil equivalents per day (boepd) compared to 3,441 boepd in April. The decline is mainly a consequence of the social unrest in Colombia, which continued to affect most economic activity including oil and gas production through May.

Road blockades slowed transportation of spares and consumables to the fields and made export of oil products from the fields difficult. In order to avoid complete shut-down of wells as the storage tanks at the fields were filling up, Interoil resolved to curb output from wells. The unfortunate situation in the country also caused further delay to the planned drilling of the Mazorca well in the Altair field..

In Argentina, the planned workover operations at the MMO-15 field commenced in May with encouraging results and increased oil production reported. Currently, Argentina is in Covid-19 lockdown, and the workover operation is suspended because some critical field experts have been prohibited from entering the country. The company expects to resolve this situation shortly.

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

Please direct 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. Interoil currently employs approximately 50 people and is headquartered in Oslo.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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