Interoil Exploration and Production

What Interoil Exploration and Production does

Interoil Exploration and Production ASA is a Norwegian-headquartered, Oslo Stock Exchange-listed (ticker IOX) independent oil and gas exploration and production company that acquires, explores, develops, and operates hydrocarbon assets in Latin America. Following a February 2026 strategic exit from Argentina, the company's operations are now concentrated in Colombia, comprising two production licenses (Puli-C and Altair) and the 447 km² LLA-47 exploration block in the Llanos Basin, where the Vikingo discovery well has been producing since opening. Historically, the company also operated five producing exploitation concessions in Argentina's Santa Cruz/Austral Basin with approximately 3,000 boepd of operated production across 42 oil wells and 30 gas wells, and held an 80% operated working interest in the La Brea block joint venture with Selva Maria Oil SA and JEMSE; both Argentina assets have been divested. Interoil's underlying technology stack is conventional upstream: 3D seismic acquisition and interpretation (350 km acquired on LLA-47), well drilling and intervention, and standard production operations on onshore acreage.

The company generates revenue by selling produced crude oil and natural gas into global commodity markets, with pricing determined by benchmark oil and gas prices rather than company-set tiers. Its go-to-market is sales-led and asset-driven: Interoil grows by acquiring licenses, participating in exploration blocks, and operating production assets, with output sold to refineries, traders, and gas buyers. 2P reserves are stated to exceed 6 million barrels of oil equivalents. Distribution of investor and operational information is handled through the Oslo Stock Exchange disclosure system and the corporate website. Recent corporate activity has been dominated by defensive actions: multiple senior secured callable bond amendments through 2025 and 2026, a request to settle the July 2026 interest payment in kind, a delay in publishing 2025 financials, a Norwegian FSA preliminary assessment tied to a 2024 accounting correction, a CFO change, and the Argentina divestiture, all of which point to balance sheet repair and a narrower, Colombia-focused operating footprint rather than expansion.

Name

Interoil Exploration and Production

Legal name

Interoil Exploration and Production ASA

Website

https://interoil.no

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

Interoil Exploration and Production ASA is a Norwegian-listed independent oil and gas exploration and production company operating onshore assets in Colombia, generating revenue by selling crude oil and natural gas produced from its Puli-C, Altair, and LLA-47 licenses into global commodity markets.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211), Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

• Oil exploration production
• Hydrocarbon exploration services
• Crude oil production
• Natural gas production
• Upstream energy operations

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Oil and Gas Production Sales: Interoil generates revenue through the sale of crude oil and natural gas produced from its exploitation concessions and production licenses in Colombia. Production comes from Puli-C and Altair licenses in Colombia, with stable production and cash-flow from oil and gas properties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Interoil Exploration and Production ASA is an independent oil and gas exploration and production company that acquires, explores, develops, and operates hydrocarbon properties in Latin America. The company produces and sells crude oil and natural gas from a portfolio of exploitation concessions and production licenses, primarily the Puli-C and Altair licenses in Colombia, with additional exploration activity at the LLA-47 block in the Llanos Basin where it acquired 350 km of 3D seismic data and made the Vikingo discovery. Revenue is generated from the sale of produced hydrocarbons into global commodity markets.

Product overview

Interoil Exploration and Production ASA is an independent oil and gas exploration and production company operating in Latin America. The company's product offering centers on its portfolio of oil and gas assets, including two production licenses in Colombia (Puli-C and Altair), the LLA-47 exploration contract with the Vikingo discovery well, and production concessions in Argentina's Santa Cruz Region and the La Brea block. The company's assets provide stable production and cash-flow from oil and gas operations in Colombia and Argentina, with a strategic focus on maximizing value from the existing asset portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Gas Exploration and Production Interoil's primary business is the exploration and production of crude oil and natural gas in Latin America, with operations focused on onshore assets in Colombia.
• Puli-C Production License One of two production licenses held by Interoil in Colombia, providing stable crude oil production and cash-flow.
• Altair Production License One of two production licenses held by Interoil in Colombia, contributing to the company's stable production base.
• LLA-47 Exploration Contract Onshore exploration block in Colombia's Llanos Basin covering 447 square kilometers with 350 km of 3D seismic data acquired and multiple hydrocarbon prospects identified.
• Vikingo Well Discovery First well drilled in the LLA-47 block, which turned out to be a hydrocarbon discovery and has been producing since opening.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Selva Maria Oil SAcoreStrategic or Co-development PartnerJoint venture partner in the La Brea block in Jujuy Province, Argentina. Interoil holds 80% working interest in a joint venture with Selva Maria Oil SA and JEMSE, with Interoil becoming the operator.
• JEMSE (Jujuy Energía y Minería Sociedad del Estado)coreStrategic or Co-development PartnerState-owned company of the Province of Jujuy, Argentina, and joint venture partner in the La Brea block. Interoil holds 80% working interest in a joint venture with Selva Maria Oil SA and JEMSE.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Frontera Energy: Latin American independent E&P with the largest operated land position in Colombia's Llanos Basin, plus legacy Peruvian and Ecuadorian assets. Highly comparable on Colombia focus and E&P operating model.
• Parex Resources: Independent E&P focused exclusively on Colombia, with operations concentrated in the Llanos Basin. Similar in size and operating approach to Interoil — operator-led exploration and production in Colombian onshore blocks.
• Gran Tierra Energy: Colombia-focused independent oil and gas E&P company listed in Toronto and on the London Stock Exchange, operating primarily in the Llanos Basin — the same basin as Interoil's LLA-47 block. Directly comparable in terms of geographic focus, asset base, and operating model.
• GeoPark Limited: Latin American independent E&P with significant operations in the Llanos Basin of Colombia, alongside assets in Chile, Brazil, and Argentina. Closely comparable on geography (overlapping Colombia exposure), production scale, and operator profile.
• Canacol Energy: Colombia-focused independent E&P with significant natural gas production in the Lower Magdalena Basin. Similar operator-led model in Colombia with comparable scale.

Emerging players

• Touchstone Exploration: Small-cap independent E&P operating in Trinidad and Tobago with an onshore-focused, modest-production profile similar to Interoil's. Comparable on scale, public-listing structure, and operator-led E&P model.
• Eco (Atlantic) Oil & Gas: Junior E&P with assets offshore South Africa and Guyana Suriname. Comparable on small-cap exploration-stage profile, although it focuses offshore rather than onshore like Interoil.

Regional players

• Phoenix Global Resources: Argentina-focused independent E&P operating in the Austral Basin — directly comparable to Interoil's former Santa Cruz concessions. Listed on the London Stock Exchange with similar small-cap profile.
• Crown Point Energy: Small-cap independent E&P operating in Argentina's Austral and Neuquén basins, with similar size and operating profile to Interoil's former Argentine assets. Useful historical peer for Interoil's Argentina exposure prior to the 2026 exit.

Others

• Andes Energía: Former largest shareholder of Interoil (acquired 51% in 2015 restructuring) and a Latin American-focused upstream investor. Thematically related as a historical sponsor and E&P investor in the same geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Interoil Exploration and Production