Karoon Energy Ltd (ASX:KAR) Baúna Project Production Restarts
Production Recommencement
Karoon Energy Ltd (ASX:KAR) has successfully restarted production at the Baúna Project as of late 22 December 2024, following essential repairs to an anchor chain on the FPSO, Cidade de Itajaí. Regulatory authority approvals facilitated this operational resumption.
Future Outlook
The second anchor chain is anticipated to be repaired by mid-January. Karoon, alongside the FPSO owner Altera&Ocyan, is investigating the cause of the anchor chain failures to prevent future occurrences. Prior to the shut-in, production was averaging approximately 24,500 barrels of oil per day (bopd). The company expects production to ramp up to this level shortly, with a projected natural decline of approximately 15% per annum.
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