Interoil Reports Major Production Boost from Vikingo Well Strategy

Interoil Achieves Remarkable Success with Vikingo Well

Interoil Exploration and Production ASA is excited to announce a significant achievement regarding its Colombian subsidiary, Interoil Colombia Exploration and Production (ICEP). Recently, the company completed a successful downhole intervention at the Vikingo well. This intervention featured the installation of a jet pump with a newly modified operational setup, which has led to a remarkable restoration of production levels reaching up to 400 barrels of oil per day (bopd), rising sharply from a mere 105 bopd prior to the intervention.

Enhanced Production Efficiency

Commitment to Operational Excellence

While the production is expected to stabilize at around 200 bopd post-intervention, the newly installed jet pump configuration has significantly improved operational efficiency. This development not only elevates production levels but also reduces lifting costs, showcasing Interoil's exemplary focus on optimizing production capabilities.

Strategic Growth and Sustainability

The successful intervention at the Vikingo well highlights Interoil’s ongoing commitment to enhancing production efficiency and extends the economic life of its assets. Beyond improving well performance, the company is diligently pursuing growth by integrating social and environmental objectives into its core operations, exploring diverse opportunities for portfolio expansion.

Leadership Insights on Future Prospects

Leandro Carbone, CEO of Interoil, expressed his enthusiasm for the intervention's results, stating, “This intervention reaffirms Interoil’s confidence in the potential of our assets. We are committed to maximizing the value of our fields while creating lasting benefits for the local communities, our employees, and shareholders.” This statement underscores the dedication to enhancing value not just from production but also through responsible community engagement.

About Interoil Exploration and Production ASA

Interoil Exploration and Production ASA stands as a Norwegian-based exploration and production company, strategically listed on the Oslo Stock Exchange with a keen emphasis on Latin America. The company operates several production and exploration assets spanning Colombia and Argentina. Currently, Interoil employs around 70 professionals who are pivotal to its operations. With its headquarters in Oslo, the company prides itself on delivering value through operational excellence, sustainable practices, and active community engagement.

For Further Inquiries

For any inquiries regarding the company and its operations, interested parties may reach out via email at ir@interoil.no.

Frequently Asked Questions

What was the main achievement announced by Interoil?

Interoil announced the successful completion of a downhole intervention at the Vikingo well, significantly increasing production levels to 400 bopd.

What improvements were made during the Vikingo well intervention?

The intervention involved installing a jet pump with a modified operational configuration, enhancing efficiency and aiming for lower lifting costs.

What are Interoil's future commitments following this success?

Interoil remains committed to maximizing asset value while focusing on social and environmental goals and exploring opportunities for growth.

Who is the CEO of Interoil and what did he say about the intervention?

The CEO, Leandro Carbone, expressed confidence in the company's asset potential and its dedication to benefiting local communities.

What is Interoil’s operational focus?

Interoil primarily focuses on exploration and production in Latin America, with ongoing operations in Colombia and Argentina.

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