Interoil's Production Report for Late 2024
Oslo, January 2025
As the exploration and production sector adapts to evolving challenges, Interoil Exploration and Production ASA is pleased to provide an in-depth look into its production performance for the last two months of 2024. This report will shed light on operational updates primarily from Argentina and Colombia, offering insights into how these regions contributed to the overall production figures.
Production Overview for November and December
In December, Interoil experienced a remarkable recovery, achieving a total operated production of 2,502 barrels of oil equivalent per day (boepd), a noteworthy increase of 608 boepd from the previous month. The performance reflects a robust operational adjustment and recovery from the setbacks encountered in November.
Performance Metrics
The comparative analysis reveals that while production in Colombia saw a temporary dip, Interoil’s operations in Argentina were the primary driving force behind the improved numbers. Here’s a closer look at the metrics:
- Colombia: December's daily production averaged 594 boepd with a noticeable decline in output.
- Argentina: The operations recorded an impressive recovery, with an increase of 712 boepd, showcasing the resilience of the fields despite earlier disruptions.
- Total Operated Production: 2,502 boepd in December, marking a significant recovery.
Argentina Operations: A Comeback
Argentina's production rebounded sharply in December following the disruptions experienced in November. The impact of severe weather, including gale-force winds, had resulted in temporary setbacks, particularly affecting infrastructure and production systems. With the resolution of these challenges, December witnessed a remarkable 20% increase in oil production and a 60% increase in gas output, culminating in the highest monthly gas production for the year.
Operational Recovery
The recovery was made possible by proactive measures taken to restore electric artificial lifting systems that had been disrupted by the storm. With conditions normalizing, the operational focus was directed towards maximizing output and addressing the cumulative production losses encountered.
Colombia Operations: Challenges and Prospects
In Colombia, while the Vikingo-1 well made a notable recovery post-repair, generating an average of 165 barrels of oil per day (bopd), the overall production figures were less optimistic. In December, operated production levels averaged 594 boepd. Plans to mobilize a workover rig for further enhancements faced delays, but the arrival is highly anticipated in the short term. This intervention is crucial for not only recovering production but also enhancing the operational capabilities of the wells impacted by earlier output dips.
Looking Forward
There is cautious optimism regarding the performance of the Puli C Fields, as wells are primed for significant operational revamps. With interventions scheduled to last approximately two months, the expectation is that these efforts will lead to higher production rates in the coming months.
Additional Insights and Future Outlook
Interoil remains committed to transparency and operational excellence in the energy sector. Detailed performance data is compiled and available for stakeholders looking for more granular insights into production metrics in both Argentina and Colombia. The focus remains anchored on optimizing production capabilities while navigating challenges inherent in the market.
This ongoing dedication not only supports Interoil's operational credibility but also enhances the efficiency of energy resources in Latin America.
Frequently Asked Questions
What is the total production of Interoil for December 2024?
The total operated production for Interoil in December 2024 reached 2,502 boepd.
How did the November weather affect production?
Severe weather conditions, specifically strong winds, disrupted operations in November, leading to reduced production levels.
What were the production changes in Argentina?
Argentina saw a significant recovery in December, with a 20% increase in oil production and a 60% increase in gas production compared to November.
What are the future plans for Colombian operations?
Future plans include mobilizing a workover rig to enhance production capabilities at the Puli C Fields, anticipated to last about two months.
How can stakeholders access detailed performance data?
Detailed production performance data, including graphs and additional performance metrics, will be available in the company's upcoming disclosures and reports.
