Karoon outlines appraisal objectives for Neon wells offshore Brazil

Offshore staff

SOUTHBANK, Australia – Karoon Energy says it could drill up to two “control” wells on the Neon light oil discovery offshore Brazil.

The company is seeking to reduce subsurface uncertainty to allow it to progress a potential Final Investment Decision (FID) on the development.

Subject to receipt of environmental licenses, the new wells (Echidna‐2 and Echidna‐3) should be drilled following the conclusion of the current Patola field development drilling campaign.

Neon, discovered in 2015 in Campos basin licence BM‐S‐10371 via the Echidna-1 well, is 50‐60 km northeast of Karoon’s producing Baúna oil field in 300 m water depth.

CEO and Managing Director Dr Julian Fowles, said: “The drilling at Neon will help us to further evaluate the commerciality of a potential Neon field development with a focus on seeking to maximize oil recoveries in the most cost effective and value adding manner. If subsurface uncertainties can be sufficiently reduced, Neon provides Karoon with the potential for a standalone development or a tie‐back to our existing operations at Baúna.”

4/7/2022