ANP approves Karoon’s commercial declarations in the Santos Basin

05/22/18

The ANP approved the commercial declaration of Kangaroo and Echidna discoveries made by Karoon in the Santos Basin. Located in block S-M-1037, the first Australian fields in the world are called Goiá, Goiá Sul, Neon and Neon Sul.

With a total area of ​​71.5 km², the asset was acquired in the 9th ANP Bidding Round in 2013, next to blocks SM-1101, SM-1102, SM-1165, SM-1166 and SM-1537, whose final reports were delivered to the agency in March.

Karoon now has 180 days to present a field development plan. In its latest financial report, the company said the final investment decision will be taken later this year.

The oil company holds 100% stake in the five blocks, but intends to sell a share of its stake in the assets. The intention is to close a married farm-in contract with the companies that will provide services in the area.

Source: Brasil Energia

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