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Financial instruments by category (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items] |
Schedule of Financial Instruments by Category | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Assets as per statement
​ | ​ | of financial position
Amounts in US$ '000 | ​ | 2021 | ​ | 2020
Financial assets at fair value through profit or loss | ​ | ​ | ​ | ​
Derivative financial instrument assets | ​ | 126 | ​ | 1,013
Cash and cash equivalents | ​ | 427 | ​ | 823
​ | ​ | 553 | ​ | 1,836
Other financial assets at amortized cost | ​ |  | ​ |
Trade receivables | ​ | 70,531 | ​ | 46,918
To be recovered from co-venturers (Note 34) | ​ | 4,680 | ​ | 2,236
Other financial assets (a) | ​ | 14,747 | ​ | 13,392
Cash and cash equivalents | ​ | 100,177 | ​ | 201,084
​ | ​ | 190,135 | ​ | 263,630
Total financial assets | ​ | 190,688 | ​ | 265,466
(a) | Non-current other financial assets relate to contributions made for environmental obligations according to Brazilian government regulations. Current other financial assets correspond to short-term investments with original maturities up to twelve months and over three months.
​
​ | ​ | ​ | ​ | ​
​ | ​ | Liabilities as per statement
​ | ​ | of financial position
Amounts in US$ ‘000 | ​ | 2021 | ​ | 2020
Liabilities at fair value through profit and loss | ​ |  | ​ |
Derivative financial instrument liabilities | ​ | 20,757 | ​ | 15,094
​ | ​ | 20,757 | ​ | 15,094
Other financial liabilities at amortized cost | ​ |  | ​ |
Trade payables | ​ | 86,672 | ​ | 63,528
Payables to LGI (former non-controlling interest) | ​ | — | ​ | 3,528
To be paid to co-venturers (Note 34) | ​ | 953 | ​ | 5,760
Lease liabilities | ​ | 20,744 | ​ | 22,347
Borrowings | ​ | 674,092 | ​ | 784,586
​ | ​ | 782,461 | ​ | 879,749
Total financial liabilities | ​ | 803,218 | ​ | 894,843
Schedule of Credit Quality of Financial Assets | The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings (if available) or to historical information about counterparty default rates: ​
​ | ​ | ​ | ​ | ​
Amounts in US$ ‘000 | ​ | 2021 | ​ | 2020
Trade receivables | ​ |  | ​ |
Counterparties with an external credit rating (Moody’s, S&P, Fitch) | ​ |  | ​ |
Aa2 | ​ | 7,132 | ​ | 2,321
Baa3 | ​ | 24,163 | ​ | 26,252
Ba2 | ​ | — | ​ | 3,847
Ba1 | ​ | 4,984 | ​ | 1,333
B3 | ​ | — | ​ | 32
B | ​ | 70 | ​ | —
Counterparties without an external credit rating | ​ | ​ | ​ | ​
Group 1 (a) | ​ | 34,182 | ​ | 13,133
Total trade receivables | ​ | 70,531 | ​ | 46,918
(a) | Group 1 – existing customers (more than 6 months) with no defaults in the past.
Schedule of Financial Liabilities - contractual undiscounted cash flows | The table below analyses the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 1 | ​ | Between 1 | ​ | Between 2 | ​ | Over 5
Amounts in US$ ‘000 | ​ | year | ​ | and 2 years | ​ | and 5 years | ​ | years
As of December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Borrowings | ​ | 40,943 | ​ | 38,550 | ​ | 263,550 | ​ | 513,750
Lease liabilities | ​ | 9,230 | ​ | 6,558 | ​ | 5,820 | ​ | 2,871
Trade payables | ​ | 85,132 | ​ | 1,540 | ​ | — | ​ | —
To be paid to co-venturers (Note 34) | ​ | 953 | ​ | — | ​ | — | ​ | —
​ | ​ | 136,258 | ​ | 46,648 | ​ | 269,370 | ​ | 516,621
As of December 31, 2020 | ​ |  | ​ |  | ​ |  | ​ |
Borrowings | ​ | 48,311 | ​ | 49,444 | ​ | 538,000 | ​ | 378,875
Lease liabilities | ​ | 10,890 | ​ | 6,230 | ​ | 5,294 | ​ | 3,653
Trade payables | ​ | 62,408 | ​ | 1,120 | ​ | — | ​ | —
To be paid to co-venturers (Note 34) | ​ | 1,994 | ​ | 3,766 | ​ | — | ​ | —
Payables to LGI | ​ | 3,528 | ​ | — | ​ | — | ​ | —
​ | ​ | 127,131 | ​ | 60,560 | ​ | 543,294 | ​ | 382,528
Schedule of Fair Value Hierarchy | The following table presents the Group’s financial assets and financial liabilities measured and recognized at fair value as of December 31, 2021 and 2020 on a recurring basis: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31,
Amounts in US$ ‘000 | ​ | Level 1 | ​ | Level 2 | ​ | 2021
Assets | ​ |  | ​ |  | ​ |
Cash and cash equivalents | ​ |  | ​ |  | ​ |
Money market funds | ​ | 427 | ​ | — | ​ | 427
Derivative financial instrument assets | ​ |  | ​ |  | ​ |
Commodity risk management contracts | ​ | — | ​ | 126 | ​ | 126
Total Assets | ​ | 427 | ​ | 126 | ​ | 553
Liabilities | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instrument liabilities | ​ | ​ | ​ | ​ | ​ | ​
Commodity risk management contracts | ​ | — | ​ | 20,757 | ​ | 20,757
Total Liabilities | ​ | — | ​ | 20,757 | ​ | 20,757
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31,
Amounts in US$ ‘000 | ​ | Level 1 | ​ | Level 2 | ​ | 2020
Assets | ​ |  | ​ |  | ​ |
Cash and cash equivalents | ​ |  | ​ |  | ​ |
Money market funds | ​ | 823 | ​ | — | ​ | 823
Derivative financial instrument assets | ​ |  | ​ |  | ​ |
Commodity risk management contracts | ​ | — | ​ | 1,013 | ​ | 1,013
Total Assets | ​ | 823 | ​ | 1,013 | ​ | 1,836
Liabilities | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instrument liabilities | ​ | ​ | ​ | ​ | ​ | ​
Commodity risk management contracts | ​ | — | ​ | 15,094 | ​ | 15,094
Total Liabilities | ​ | — | ​ | 15,094 | ​ | 15,094
Cash At Bank And Other Financial Assets [Member] |
Disclosure of detailed information about financial instruments [line items] |
Disclosure of credit quality of cash at bank and other financial assets [text block] | Cash at bank and other financial assets (a) ​
​ | ​ | ​ | ​ | ​
Amounts in US$ ‘000 | ​ | 2021 | ​ | 2020
Counterparties with an external credit rating (Moody’s, S&P, Fitch, BRC Investor Services) | ​ |  | ​ |
A2 | ​ | 53,114 | ​ | 122,229
A3 | ​ | 27,257 | ​ | 44,808
AAA | ​ | 3,529 | ​ | 18,119
Ba1 | ​ | 67 | ​ | 2,343
Baa1 | ​ | 1,605 | ​ | 574
Baa2 | ​ | 3,708 | ​ | 2,146
Ba3 | ​ | 5,117 | ​ | 43
Aa2 | ​ | — | ​ | 1,073
Ba2 | ​ | 21 | ​ | —
Aa3 | ​ | 8 | ​ | —
Counterparties without an external credit rating | ​ | 20,908 | ​ | 23,941
Total | ​ | 115,334 | ​ | 215,276
(a) | The remaining balance sheet item ‘cash and cash equivalents’ corresponds to cash on hand amounting to US$ 17,000 (US$ 23,000 in 2020).

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