Interoil Exploration's Production Report for Early 2025
Interoil Exploration's Production Report for Early 2025
Oslo, April 29 – Interoil Exploration and Production ASA has recently unveiled its production report for early 2025, providing stakeholders with critical insights into operational performance across key regions. This report highlights the company’s achievements and challenges faced in producing oil and gas from its operations.
Production Overview
In March, Interoil’s average total operated production reached 2,504 barrels of oil equivalent per day (boepd), marking an impressive increase of 428 boepd compared to the previous month. This growth is attributed to enhanced production activities in both Argentina and Colombia.
The figures indicate a strong recovery in operated production, with Argentina contributing significantly to this uplift by achieving an increase of 380 boepd, while Colombia added an additional 47 boepd. These developments reflect Interoil’s commitment to maintaining and expanding its operational efficiency within the competitive oil and gas market.
Highlights from Key Regions
Argentina's Production Activity
In Argentina, production faced challenges due to the breakdown of two critical compressor engines. The company was quick to respond by fabricating custom replacement parts, which began arriving in February. This swift action was essential in minimizing downtime. The repairs were effective, allowing production to recover in March, effectively restoring about 90 barrels of oil per day (bopd) owing to a comprehensive maintenance and recovery campaign.
Insights from Colombia
Moving towards Colombia, notable progress occurred during March. The Vikingo-1 well performed well, averaging 141 bopd. Additionally, significant improvements were reported at the Puli C site, where production increased by 51 bopd after the reactivation of previously shut-in wells. The company successfully mobilized a workover rig that facilitated this vital intervention, allowing for the return to production of seven wells, yielding approximately 117 bopd in total flow alongside a gas output of 82,000 standard cubic feet per day (scfpd). This increase is expected to stabilize and possibly grow in the forthcoming weeks.
Future Expectations and Operational Insights
Interoil’s operational strategies remain focused on enhancing production across its sites. The analysis of the production performance paints a positive forecast for the upcoming months, especially as more wells come online and operational challenges are effectively managed. The company’s focus remains on boosting efficiency and maximizing output from both operated and equity production.
The company provides clear definitions of its operational terms: "Operated production" signifies the total output from fields that Interoil operates, while "Equity production" indicates Interoil’s share of production, net of royalties. This differentiation is crucial for investors and stakeholders to understand the company's financial and operational landscape.
Contact Information
For more detailed inquiries or further information regarding the production report, interested parties can reach out via email:
ir@interoil.no
Interoil Exploration and Production ASA is committed to delivering insights and updates related to its exploration and production efforts, especially focused on Latin American markets. The company’s headquarters are in Oslo, with operations in strategic geographic locations to maximize resource exploitation.
Frequently Asked Questions
What is Interoil's average daily production for March 2025?
For March 2025, Interoil reported an average daily production of 2,504 boepd.
Which country contributed the most to Interoil's production increase?
Argentina contributed the most with an increase of 380 boepd in production.
What challenges did Interoil face in Argentina?
Interoil faced production challenges due to the breakdown of two compressor engines; however, repairs were successfully carried out.
What production results were observed in Colombia?
In Colombia, the Vikingo-1 well averaged 141 bopd, and the Puli C site saw increased production of 51 bopd from the reactivation of wells.
How can individuals contact Interoil for more information?
Individuals can contact Interoil for inquiries via the email: ir@interoil.no.
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