Page 16 - LatAmOil Week 20 2022

LatAmOil NEWS IN BRIEF LatAmOil

PERFORMANCE
Colombia/Argentina:

Interoil issues production

report for April 2022

Interoil Exploration and Production has
announced gross operated production in April
2022 and corresponding numbers for March
2022 for its assets in Colombia and Argentina.
Colombia: April 2022 (1,027 boepd, 642 bpd
of oil); March 2022 (1,083 boepd, 697 bpd of oil).
Argentina, operated by Salva Maria Oil on
behalf of IOX until local authorities approve
operator’s licence: April 2022 (1,875 boepd, 402
bpd of oil); March 2022 (2,284 boepd, 409 bpd
of oil).
Comments: In April 2022, the average daily
production from fields in Argentina and Colom-
bia was 2,903 barrels of oil equivalents per day continue, despite April figures. Oceano produc- (SASB), Task Force on Climate-Related Finan-
(boepd), compared with 3,367 boepd in March tion is already back on stream and production cial Disclosures (TCFD), Carbon Disclosure
2022. optimization work is still on going. Project (CDP) and the Global Reporting Initi-
Last month, operated production decreased Interoil, May 13 2022 ative (GRI), the Global Compact, the Voluntary
by 464 boepd representing around 16% reduc- Principles on Human Rights and Security, and
tion against March. This reduction is largely the UN Sustainable Development Goals. Fron-
explained by operational circumstances taken POLICY tera has voluntarily published annual Sustaina-
place in Mana, Vikingo and Oceano Fields. bility Reports since 2016 as part of its continuous
In Argentina, all the Santa Cruz operated Frontera releases its 2021 and transparent disclosure efforts to highlight its
fields experienced a reduction in their produc- ESG achievements and challenges.
tion output mostly in line with fields’ natural Sustainability Report Frontera’s 2021 Sustainability Report can be
depletion, except for Oceano Field, where its accessed on the Company’s website.
production remained shut-in most of the month Frontera Energy today released its 2021 Sus- Highlights of Frontera’s 2021 ESG perfor-
due to maintenance work performed on the gas tainability Report announced its 2022 environ- mance include Environment: Frontera neu-
treatment facility; specially in the compressor mental, social and governance (ESG) targets tralized 41% of its carbon emissions on average
unit. This maintenance programme is already and reaffirmed its commitment to continue to through carbon credits. The Company planted
concluded and Oceano’s production is back on develop and implement meaningful actions 764 hectares of biological corridors to preserve
stream at its previous daily rate. to strengthen its ESG performance across its diversity and ecosystems.
In Mata Magallanes Oeste (MMO), Interoil business. Social: Frontera was awarded the Equipa-
has submitted additional environmental request Orlando Cabrales, CEO, Frontera, com- res Gold Seal from the Ministry of Labour of
to the local authorities where formal final mented: “I am pleased to report that Frontera Colombia for the Company’s commitment and
approval is still pending. achieved 98% of its 2021 ESG goals and I am efforts to close gender gaps in the workplace and
In Colombia, Puli C production decreased excited by the challenge of delivering our 2022 in the communities where it operates. The Gold
also following its natural depletion rate except ESG goals and objectives. Frontera’s ESG strat- Seal is the highest recognition of the program
for Mana Field where unexpected failures in egy is guided by our values of integrity, respect, and Frontera is the first oil and gas company to
some surface production pumps decreased its commitment, sustainability and culture. We are receive this recognition.
overall daily production output. building a sustainable future through opera- Frontera was certified by Great Place to Work
In the Llanos area, Vikingo’s production tional excellence and business integrity, caring (GPTW) as the only oil and gas company with
also suffered surface production pumps issues for the health and safety of our people and the an outstanding work environment. Frontera was
slightly reducing its monthly average daily out- communities where we operate, being respon- also recognized as one of best places to work for
put. The planned exploration campaign in the sible with the ecosystems and the environment, women in Colombia among the 2021 GPTW
Altair and LLA-47 blocks remains on hold and and creating value for our social setting.” ranking.
pending approval from local authorities. Frontera’s 2021 Sustainability Report report The Company reduced its wage segregation
Since November, Interoil operated produc- details Frontera’s sustainability challenges, the index by 28% compared with 2020.
tion has steadily been increasing, responding Company’s performance against its 2021 ESG Frontera maintained its total recordable inci-
positively on the maintenance and debottle- goals and publicly establishes its 2022 ESG dent rate in 1.7 and kept a safe and healthy work
necking work undertaken on the surface infra- objectives. The 2021 Sustainability Report covers environment across its operations.
structure system combined with downhole the period from January 1, 2021 to December 31, Frontera invested $4.7mn in 164 projects that
production optimization. Interoil is confi- 2021 and has been prepared in accordance with benefitted more than 46,000 people in Colom-
dent this positive trend and growth will likely the Sustainable Accounting Standards Board bia, Ecuador and Peru.

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