Interoil Exploration & Production ASA: Vikingo-x1 Production
06 Août 2018 - 8:30AM
Oslo, 6 August 2018
Vikingo-x1 Operational Update
Last July 5th
Vikingo's flow production stopped and after a series of operational
tests conducted by Interoil's field personnel it was determined
that the problem is caused in a failure in the downhole pump, an
important device within Vikingo's production string. In order to
recover Vikingo's production flow rates a workover operation is
required to replace the broken downhole pump.
Profiting the presence of a workover rig, Vikingo's workover
program shall be aimed at both establishing production from the C5
layer and installing a selective production string to independently
test and produce the lower C7 layer.
Prior to mobilizing the workover rig, Interoil approached one local
native community, named "Duya", with the intention to have their
approval to mobilize the workover rig through their property.
Since the decision of the workover operation made, Interoil has
been conducting daily meetings with the Duya's native community
explaining the importance of such workover operation in Vikingo
with the view of securing the Duya's approval. In addition,
and regardless of any progress with the Duya, Interoil has already
started the required access approval for the use of an alternative
private path with other independent landowners to the Duya.
This process is expected to take eight to nine weeks, providing
Interoil the corresponding right of ways approval to mobilize the
work over rig by the beginning of October of this year.
Leandro Carbone, CEO, commented:
We are surprised with the delay we are experiencing with the Duya's
approval despite the good and permanent relationship we have
established with them since the Vikingo-x1 discovery. Despite
Duya's current situation, the alternative path to secure access to
the Vikingo-x1 site is close to materialize considering Interoil
has been working on the related right of ways since early this
year. We are confident that Vikingo's production will resume
in due course.
Contact:
ir@interoil.no
***************************
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 70 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.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Interoil Exploration & Production ASA via
Globenewswire
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