Offshore staff
SOUTHBANK, Australia – Karoon Energy has committed to development of the Patola field in the Santos basin offshore Brazil.
Patola, in 300 m (984 ft) of water in the 100% Karoon-owned license BM-S-40, is adjacent to the producing Baúna and Piracaba accumulations. The field will be tied back to spare riser slots on the Baúna FPSO Cidade de Itajaí via two near-vertical subsea production wells.
These will be drilled and completed by the semisubmersible Maersk Developer after it has completed a current four-well intervention program on Baúna, under a $27-million contract with the program potentially lasting up to 120 days.
TechnipFMC will design, manufacture, and install the Christmas trees, flowlines, risers, umbilical, and controls under an integrated EPCI contract, scheduled for completion during 2H 2022.
Karoon estimates the cost of the development at $175-195 million, of which around $17 million has already been spent on orders for long-lead items.
The company will fund remaining capital costs through a combination of a newly arranged $160 million syndicated facility agreement, and cashflow from operations.
Patola, due to come onstream early in 2023, should initially produce more than 10,000 b/d from reservoirs of the same geological age as those in Baúna and Piracaba.
The development will target 14.7 MMbbl of 2C resources, comprising 13.2 MMbbl in Patola and an additional 1.5 MMbbl in Baúna arising from injecting Patola’s gas into the Baúna reservoir.
06/03/2021
