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Be the first with the news that moves the market- Karoon Energy (KAR) commences its Baúna intervention campaign
- The commencement follows receipt of all permits and regulatory approvals required for the Maersk Developer drilling rig to commence operations
- The intervention campaign aims to add 5000 to 10,000 barrels of oil per day (bopd) to Baúna production
- The campaign is anticipated to take four to five months to complete
- Karoon Energy shares are up 2.7 per cent, trading at $1.90 each
Karoon Energy (KAR) has commenced its Baúna intervention campaign, following the receipt of all permits and regulatory approvals required for the Maersk Developer drilling rig to commence operations.
The intervention campaign aims to add 5000 to 10,000 barrels of oil per day (bopd) to Baúna production.
The campaign also comprises the installation of new electric submersible pumps in the PRA-2 and SPS-92 wells, installation of gas-lift equipment in SPS-56 and re-opening of the lower zone of the BAN-1 well.
The Maersk Developer rig is then scheduled to drill two development wells on the Patola Field and, subject to the receipt of required regulatory licences, one or potentially two control wells on the Neon oil discovery.
“The commencement of the Baúna intervention program represents the culmination of more than 18 months of detailed planning and hard work from the Karoon teams and our contractor partners in Australia and Brazil,” CEO and Managing Director Dr Julian Fowles said.
“Our key focus is on delivering this campaign safely, efficiently and on schedule, in
close cooperation with the operator of the drilling rig, Maersk Drilling.”
After loading supplies and equipment for the program, the rig departed Rio de Janeiro on May 8 and arrived at the PRA-2 well site in license BM-S-40, southern Santos Basin, on May 11.
The rig moored, using pre-installed mooring buoys, and the first Baúna intervention in the four-well campaign commenced on May 15.
The campaign is anticipated to take four to five months to complete.
Karoon Energy shares were up 2.7 per cent, trading at $1.90 as of 12:10 pm AEST.
