Karoon é liberada pela ANP para começar a desenvolver atividades offshore no Brasil

Karoon Is Cleared by ANP to Start Offshore Activities in Brazil

Written by Paulo Nogueira

Published on 01/06/2018 at 11:33

Updated on 01/06/2018 at 11:44

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Karoon Gas Entered the Development and Production Phase of the Echidna and Kangaroo Light Oil Fields Located in Brazil

Regarding the Kangaroo and Echidna discoveries, located in the Santos Basin, Karoon received approval from ANP for the Final Discovery Assessment Report (RFAD) for the wholly owned blocks SM-1037, SM-1101, SM-1102, SM-1165, and SM-1166 along with a Declaration of Commerciality (DoC). Karoon reported on Friday that it submitted the RFAD and DoC documents in early May to the Brazilian oil and gas regulatory agency, the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The documents describe two distinct areas identified for retention, which include the Echidna and Kangaroo oil accumulations, along with some prospective resource opportunities nearby. As is the convention in Brazil, in the Declaration of Commerciality, the field names are given to the asset parts that are in different blocks, being named according to maritime entities. As each field spans two blocks, the Kangaroo will officially become GOIÁ and GOIÁ SUL, while Echidna will become NEON and NEON SUL.

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The ANP’s approval of the RFAD and DoC marks the end of the exploration phase and the beginning of the development and production phase. Karoon noted that while the approval marks the start of the development and production phase, it does not constitute a Final Investment Decision (FID).

An FID will be evaluated by Karoon independently of these approvals, and it is expected that Karoon will be in a position to decide on the FID by the end of 2018. Karoon will need to submit a development plan within 180 days of the DoC. The first phase of development proposes two expanded horizontal production wells and a gas injection well, with the potential to include the Kangaroo as a second phase option.

Speaking of light oil, we wrote an article about the difficulty that Brazil has in processing oil and good quality and the reason why we import so much from abroad, check out the full article here, which may help you understand some factors that contribute to the high fuel prices in our country.

Karoon Is Cleared by ANP to Start Offshore Activities in Brazil

Karoon Gas Entered the Development and Production Phase of the Echidna and Kangaroo Light Oil Fields Located in Brazil

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