Interoil Reports October Production Growth and Updates

Key Production Metrics and Overview

Interoil Exploration and Production ASA has recently released its production metrics, showcasing a notable improvement in operational output for October. The total operated production in October averaged 2,239 barrels of oil equivalent per day (boepd), representing an increase of 157 boepd from the previous month. This positive trend highlights the company’s ongoing efforts in optimizing production across its operational territories.

Production Performance Analysis

In analyzing the figures, Argentina led the charge with a remarkable increase of 196 boepd. This growth is attributed to focused strategies implemented by field teams, which prioritized the restoration and maintenance of compression and generation equipment across various sites. This proactive approach not only enhanced production capabilities but also allowed for the reactivation of multiple wells that had been inactive during the winter months.

Argentina's Operational Highlights

Argentina's production improvements stem from a dedicated effort to regain pre-winter production levels. The operational teams have made significant strides in optimizing the performance of existing assets. Their diligence in restoring vital equipment has played a crucial role, ensuring that production levels remain robust amidst fluctuating market conditions.

Colombia's Current Production Status

Conversely, Colombia faced some challenges during the month. Production was restricted to the Puli C operation, as the Vikingo Field remained offline due to equipment failures. Notably, a recent intervention at Vikingo-1 aimed to address these issues, resulting in increased output, which currently stands at 300 barrels of oil per day (bopd), down from an initial recovery of 400 bopd. The company is actively working to resolve these production limitations, focusing on implementing necessary repairs and upgrades.

Future Operations and Expectations

Looking ahead, Interoil is mobilizing workover rigs to facilitate interventions at the Puli C fields. These efforts are projected to continue for at least three months, aiming to enhance production further by replacing outdated downhole production equipment. The team remains optimistic that these enhancements will deliver a sustainable increase in production volumes.

Final Thoughts and Additional Information

Interoil strives to maintain transparency regarding its production strategies and progress. By focusing on effective asset management and ongoing equipment maintenance, the company aims to reinforce its production capacity while navigating the complexities of the oil and gas industry. A comprehensive report detailing production performance can be found in the attached documents, illustrating both the operated and equity production by country.

Frequently Asked Questions

What is the average daily production for Interoil in October?

In October, Interoil's total operated production averaged 2,239 boepd.

Which country contributed the most to production increases?

Argentina contributed significantly to the production increases, with an improvement of 196 boepd.

What challenges did Colombia face in October's production?

Colombia faced production limitations primarily due to equipment failures at the Vikingo Field.

How is Interoil addressing production challenges in Colombia?

Interoil is implementing workover interventions and mobilizing rig resources to enhance production at the affected sites.

What strategies are in place for future production improvements?

Interoil is focusing on equipment upgrades and maintenance to ensure sustained production levels in its operational regions.

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