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The Contract Between Karoon and Maersk Will Be Used by a Platform for Intervention in Four Oil Wells in the Baúna Field in the Santos Basin
Maersk Drilling, an offshore drilling contractor, has signed a contract with Karoon Energy to conduct intervention on four oil wells in the Baúna field, located in the Santos Basin. Maersk stated that the contract is scheduled to begin in the first half of 2022 and will be valid for 110 days.
Contract Between Karoon and Maersk
The total contract value is approximately US$ 34 million, including the costs of modification and mobilization of the platform. The contract includes the option to extend drilling time by up to 150 days to conduct interventions in the oil fields of Patola and Neon, also located in the Santos Basin.
Maersk Drilling’s COO, Morten Kelstrup, says they are very pleased to sign the contract with Karoon. He also stated that it will be the first time the company’s rig will carry out offshore operations in Brazil. Morten also emphasizes that they are eager to enter this offshore market and work with Karoon in the Baúna field in the Santos Basin.
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Dr. Julian Fowles, CEO and Managing Director of Karoon Energy, said that the company is pleased with the agreement between the two companies and also states that he hopes to work collaboratively with Maersk Drilling.
Karoon Acquires Oil Field from Petrobras in the Santos Basin
Last November, Karoon finalized a contract with Petrobras for the purchase of the Baúna field, located in the Santos Basin, for the amount of US$ 285 million, which can be paid until 2026.
According to the state-owned company, Karoon paid US$ 150 million to complete the transaction, which added to the US$ 49.9 million paid in July 2019, when the sale agreement was signed. The remaining installments, estimated at around US$ 40 million, will be paid by Karoon over 18 months. Both parties agreed that Petrobras would receive the contingent portion of the price before 2026, amounting to US$ 285 million. The state-owned company added that, with this transaction, Karoon will become the operator of the concession with a 100% stake.
Baúna Field in the Santos Basin
The Baúna Field is located in the southern part of the Santos Basin. It originated from the old exploratory blocks SM-1288 and SM-1289, and was discovered by 1-BRSA-607-SPS (1-SPS-56) and 1-BRSA-658-SPS in 2008. The oil well located in the Santos Basin is approximately 210 kilometers off the southern coast of São Paulo state, with a water depth ranging from 225 to 295 meters.
The Baúna Field collection system connects 6 oil production wells, 3 water injector wells, and 1 gas injector to the FPSO, in the city of Itajaí. Oil flow is conducted through the outgoing pump and the floating hose connected to the pressure relief reservoir. Most of the produced natural gas is reinjected into the reservoirs of the concession area as a form of secondary recovery and consumed in the gas lift of its production wells.
The Semi-Submersible Platform That Will Operate in the Santos Basin
Maersk Developer is a dynamically positioned semi-submersible platform stabilized by DSS-21 columns, capable of operating in water depths of 10,000 feet. It was delivered in 2009 and is currently operating off the coast of Suriname. Soon, the platform will arrive in the Santos Basin to operate in the Baúna field.
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