Production report for September 2022

Interoil Exploration & Production ASA

Oslo, 13 October 2022

	September 2022		August 2022
Operated	Boepd (1)	Bopd (2)	Boepd (1)	Bopd (2)
Colombia	926	585	966	615
Argentina (3)	2,232	380	2,161	368
Total operated	3,158	965	3,127	983
Total equity	765	404	785	422

(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.

Comments

In September 2022, the average daily operated production from fields in Argentina and Colombia combined increased by 32 boepd representing one percent against the month of August. Most of this increment comes from the Argentina operation, +71 boepd, whereas the Colombia operation decreased by 40 boepd as explained below.

In Argentina, production at the Santa Cruz operated fields increased, with the Oceano and the Cerro Norte fields accounting for most of it. This is the result of the gas compressor enhancement undertaken last month in the Oceano Field plus the paraffins and asphaltenes removal campaign taken in Cerro Norte Field during the early days of September.

In Colombia, Puli C production decreased from the previous month, especially in the Mana Field where operational issues at the compression units in Tugas Facilities (Mana’s final gas end user) caused a pressure increment at Mana’s gas export flange. This backpressure adversely affected oil flows at the wellheads.

In the Llanos area, Vikingo production flows have reached maturity in Carbonera 5 formation where oil flows would slowly but steady decrease following its natural depletion rate as per SGS 2022 reserves certification. 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.

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.

 

Attachment

• Interoil September 2022 Detailed production report