Vikingo well back on stream
Oslo, 5 February 2019
After having conducted maintenance civil works on the northern route to access Vikingo site, a location heavily affected by loadtrucks driving in during the rainy season, Interoil is pleased to announce the reopening of Vikingo's production since last Friday at 1800hs.
In the meantime, Interoil has also closed the execution of agreements with the land owners of the area whereby the company has been granted with the right to use this alternative route of access to Vikingo site. As a result, Vikingo's operation will now benefit from the establishment of an alternative route that shall improve access conditions and stability of operations.
The company shall also be benefitted with a reliable export alternative thanks to the pipeline transportation agreement entered into with Perenco allowing Vikingo's production being piped from Oropendola Field, a production facility operated by Perenco just 15 km to the east from Vikingo's site, to Coveñas, an export terminal located in the Caribbean Sea. This new export route improves Interoil's operating netback and the conditions for a continous dilivery of Vikingo's production mitigating an adverse effect of possible third party disruptions.
Leandro Carbone, CEO, commented: "We are very enthusiastic both with the progress made by having the "Northern Route" operational faster than expected and with the synergies found after combining field export facilities with Perenco. These will benefit Vikingo's operation as well as the commercial activity of the nearby natives' communities by having an alternative access route to the previously one used through the Duya's territory. Notwithstanding the foregoing, Interoil keeps a fluent and constructive interaction with the Duya community aimed at minimizing undue disruptions and streamlining safety activities."
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 the operator of several production and exploration assets in Colombia. Interoil currently employs approximately 55 people and is headquartered in Oslo.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.