Karoon advises that Baúna production, including from the Patola field, was shut-in at 1700 on 28March 2023 (BRT) in a safe and controlled manner,due to a loss of containment incident associated with the high pressure flare on the FPSO, Cidade de Itajaí.

The FPSO operator, Altera&Ocyan (A&O) mobilised a team of specialists to the FPSO to identify the source of the leak and undertake repairs. These repairs were completed on 30 March 2023. However, due to the higher than expected flow rates from the Patola wells, and the associated pressure that places on the FPSO processing system, Karoon and A&O have decided to extend the shutdown to undertake a full inspection and testing of associated systems, and to bring forward some of the planned July maintenance program.

It is expected that the inspection and accelerated maintenance work will be completed by mid-April 2023, allowing production to restart. If there is a material change to this date, Karoon will keep the market informed.

Due to higher than anticipated production rates seen from both the intervention program and from Patola, at this stage the Company’s production guidance for the FY2023 full year remains unchanged, despite the current shutdown.

KeyFacts Energy: Karoon Gas Brazil country profile