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Karoon Energy will carry out another oil operation in the Santos Basin, marking a major milestone in Brazilian offshore production
Australian oil and gas company Karoon Energy is preparing a large-scale intervention operation to restore production at a field located in the Santos Basin in Brazil. This action has the potential to redefine the future of Brazilian offshore production, with significant implications for the global energy market.
Operational problems in November 2023 affected Karoon's offshore oil production at the Baúna project, resulting in the formation of hydrates in two subsea wells. Although one well in the Santos Basin quickly returned to production, the second remained offline due to a mechanical blockage in the gas lift valve, requiring a more complex solution.
Solution underway in the Santos Basin
Karoon worked closely with oil partners Altera and Ocyan to resolve the issues by replacing equipment and performing gas stimulation on the affected offshore well. However, the complexity of mechanical blockage now requires direct well intervention to restore production.
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The company plans to carry out the offshore intervention with a light well intervention vessel (LWIV) for approximately 20 days, with an estimated cost of between US$5 and 10 million. The timing of this transaction depends on LWIV contracting, ancillary services and regulatory approvals.
Impact on production and future projections
Karoon has revised its offshore production projections in the Santos Basin for 2024, expecting a range between 7,2 and 9,0 million barrels in Brazil, due to the impact of the intervention. The company's total production, including assets recentlyand acquired, is estimated between 11,2 and 13,5 million barrels of oil equivalent (MMboe), with unit production costs in the range of US$ 10,5 to US$ 15,0 per boe.
Karoon Energy's initiative represents a crucial step towards reactivating Brazilian offshore production, in the Santos Basin, with significant implications for the company and the global energy market. This operation will not only solve complex technical challenges, but will also shape the future of the oil industry in the region.
Karoon Energy
Karoon Energy is an Australian-based oil and natural gas company specializing in the exploration, development and production of energy resources. Founded in 2003, the company has operations mainly focused on Australia and Brazil, where it has significant assets.
In Brazil, Karoon Energy has stood out as one of the most active foreign companies in the oil and gas sector. The company acquired important exploration blocks in the Santos Basin, one of the most promising areas for oil production. oil in the country. Karoon Energy has invested in advanced exploration and production technologies, aiming to maximize the efficiency and profitability of its operations.
