Interoil Exploration & Production provides production update for December 2009.

The increase in production can be traced back to the ongoing drilling and dual completion campaign. Three new wells in Peru have successfully been set in production in December and the dual completion of four wells (produce from two separate zones) has shown remarkable results. The best producing well in the Mirador area in Peru is now producing more than 1’300 bopd (previously 600 bopd).

The drilling, fraccing and first phase dual completion process is expected to be fully completed during January. The total year end production was more than 8’500 bopd, which is very encouraging.

Oil has been sold at average sales price of USD 73.48 in Peru and USD 69.09 in Colombia per barrel during December.

Tags: Interoil Exploration & Production ASA