With an eye on the expansion in the oil market, Karoon announced that the PAT-2 well, one of the two new producing wells drilled in the Patola field in the Santos Basin, went into operation last Wednesday (15th), with a production of 12.000 to 14.000 barrels a day.

The Patola field well in the Santos Basin has underwater connection and umbilical with the FPSO Cidade de Itajaí. The second well, PAT-1, is expected to start production by the end of March 2023.

Production from the Patola field in the Santos Basin should remain stable in the coming months

After an initial period of high multi-day production, production from the two Patola field wells in the Santos Patola Basin is expected to stabilize at approximately 10.000 to 15.000 bopd, bringing total production from BM-S-40 to over 30.000 bopd prior to start-up.

Depending on how the reservoir and aquifer respond, one of the two future production wells could be diverted for water injection, and any associated gas from Patola will be reinjected into the Baúna reservoir via the SPS-89 gas injector.

Learn more about the Patola field in the Santos Basin

The Patola oil field was discovered by Petrobras in 2011 through exploratory well SPS-91. In this field, oil with an API of 38 degrees was found in the same Oligocene turbiditic sandstone found near Baúna and Piracaba, with similar petrophysical properties. The field is located in a water depth of approximately 280 meters. In June 2021, eight months after acquiring the BM-S-40 assets from Petrobras, Karoon announced its decision to continue developing the Patola.

Patola's Proved and Probable (2P) reserves were updated from 1,7 MMbbl to 16,4 MMbbl as of Dec 31, 2022 due to better than expected reservoir quality in the PAT-1 and PAT-2 wells. Julian Fowles (pictured), CEO and Managing Director of Karoon, said: “Achieving Patola's first production is a important milestone for Karoon and follows a successful intervention in the Baúna field. We saw very high production in the first Patola well, which should drop to rates between 5.000 and 7.500 bopd in the coming days. This is the initial growth program for Karoon's field in Brazil and has been delivered so far without major environmental or safety issues for the region. The efficient execution of this project is a testament to the close collaboration of our technical, operational and commercial teams in Brazil and Australia with our service provider and with Altera & Ocyan, operator of the FPSO.”