Courtesy Karoon Energy's 2024 Full Year Financial Report and Investor Presentation
Karoon Energy expects to close its acquisition of the FPSO Cidade de Itajaí by the end of this month.
This is connected to 12 subsea wells serving the Baúna and Patola fields in the Santos Basin offshore Brazil. The FPSO, at present operated by Altera & Ocyan and leased back to Karoon, has a fluid handling capacity of about 80,000 bbl/d and an oil storage capacity of 631,000 bbl.
Production resumed last week following a shutdown for annual maintenance, during which an intervention was completed on the SPS-88 development well.The well is producing about 2,000 bbl/d on a restricted choke and is gradually being opened further.
Further maintenance work planned later this year and into 2026 may involve bringing in another flotel (the rig currently alongside the FPSO is due to finish operations this weekend).
Dr. Julian Fowles, Karoon’s CEO and managing director, said that once the company assumes ownership of the FPSO, it will target 90-95% efficiency over the longer term to improve production.
The Deepwater Brazil Special Report, which published in December 2024, provides an overview of technology trends, project updates, key players and a market outlook for the oil and gas operations offshore Brazil. Download the (FREE) e-book.
