Interoil Exploration and Production ASA is pleased to announce that the Government of the Province of Santa Cruz has granted formal authorization to the assignment to the Company of a 8.34% participating interest in and to the exploitation and exploration concessions CA-10 “PALERMO AIKE”, CA-9 “OCÉANO”, CA-6 “CHORRILLOS”, CA-4 “MOY AIKE” and CA-1 “CAMPO BREMEN”.
This Government approval has been given by means of Decree 0121/23 of the Province of Santa Cruz, dated January 31, 2023, and published in the Official Gazette of the Province on February 7, 2023. The participating interests in the five aforementioned concessions, all of them located in the Province of Santa Cruz, were acquired by the Company from Roch S.A., an Argentine company, in 2020 (ref. announcement dated 11 January 2020).
In addition to holding the participating interests referred to above, the Company serves as the operator under the joint venture agreement governing the activities that are being carried out in such concessions.
