Production report for January 2024

February 19, 2024

Oslo, 19 February 2024

        Dec 2023Jan 2024OperatedBoepd (1)Bopd (2)Boepd (1)Bopd (2)Colombia 605400572374Argentina2,1473381,846336Total operated2,7527382,418710Total equity1,3354131,181394

(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

Interoil total daily average operated production experienced a severe reduction in production of around 335 boepd when compared with the previous month, in both Argentinean and Colombian operations.

In Argentina, the operated production was reduced by 301 boepd due to some mechanical issues with the gas compressors in the Santa Cruz (SC) Exploitation Assets and only 7 boepd loss from Mata Magallanes Oeste (MMO) Field. This significant drop in the SC operation is related with two gas compression units demanding some replacements spare parts to be acquired from abroad. Regarding the pulling campaign in SC, the reopening of shut-in wells is still being carried out as per its pulling program. In MMO the monthly average production reached 50 boepd. The slight reduction in production here is related to downhole chemical treatments being carried out in some producing wells.

In Colombia, Puli C production experienced a reduction of 24 boepd due to surface chemical treatments to solve asphaltenes formation in some production strings in Mana. During the first half of the month, the Vikingo well was shut-in to perform a downhole pressure survey test aimed at identifying the proper jet pump configuration. This test indicated the downhole configuration parameters required a different jet pump geometry. This new downhole jet pump, after installed, allows Vikingo production to stream 250 bopd ( +183 bopd). This is expected to show in the next monthly report. 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.

Attachment

Interoil January 2024 Detailed Production Report

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