Production report for April 2022

Oslo, 13 May 2022

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

(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 April 2022, the average daily production from fields in Argentina and Colombia was 2,903 barrels of oil equivalents per day (boepd), compared with 3,367 boepd in March 2022.

Last month operated production decreased by 464 boepd representing around 16 percent reduction against March. This reduction is largely explained by operational circumstances taken place in Mana, Vikingo and Oceano Fields.

In Argentina, all the Santa Cruz operated fields experienced a reduction in their production output mostly in lined with fields’ natural depletion, except for Oceano Field where its production remained shut-in most of the month due to maintenance work performed on the gas treatment facility; specially in the compressor unit.   This maintenance programme is already concluded and Oceano’s production is back on stream at its previous daily rate.

In Mata Magallanes Oeste (MMO), Interoil has submitted additional environmental request to the local authorities where formal final approval is still pending.

In Colombia, Puli C production decreased also following its natural depletion rate except for Mana Field where unexpected failures in some surface production pumps decreased its overall daily production output.

In the Llanos area, Vikingo’s production also suffered surface production pumps issues slightly reducing its monthly average daily output. The planned exploration campaign in the Altair and LLA-47 blocks remains on hold and pending approval from local authorities.

Since November, Interoil operated production has steadily been increasing, responding positively on the maintenance and debottlenecking work undertaken on the surface infrastructure system combined with downhole production optimization. Interoil is confident this positive trend and growth will likely continue, despite April figures. Oceano production is already back on stream and production optimization work is still on going.

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.