Karoon and Constellation negotiate drill ship – Peru

July 3, 2019

Constellation may agree to a new drill ship charter contract for overseas operation. The Brazilian group is negotiating with Karoon to hire equipment to carry out an exploratory campaign on the Z-38 block in the Tumbes basin in Peru.

The Karoon campaign on assets acquired in 2008 is scheduled to begin in the first quarter of 2020. The work program foresees the drilling of one firm well and a second contingent.

Negotiations between the two companies are well advanced, depending only on final decisions, according to sources heard by BE Petróleo. The companies do not comment on information about the process, but the tendency is that the contract, if formalized, involves the drill ship Amaralina Star.

Since the end of 2017, Constellation has been conducting an overseas drilling campaign with Olinda Star for ONGC. About five years ago, the Brazilian group was responsible for the Karoon drilling campaign in the Santos Basin.

The Z-38 block is located on the northern coast of Peru. Karoon is responsible for the operation of the asset, with a 40% stake, having as partners Tullow Peru (35%) and Pitkin Petroleum Peru (25%). In 2010, the consortium acquired 1,500 km² of seismic in the area.

Source: Brazil Energy

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