July 29, 2019
Karoon plans to drill one or two wells in the Patola Discovery area in the southern Santos Basin, with an investment of $ 130 million. Asset development under concession BM-S-40 is to be approved by Karoon in 2021.
Patola has about 10 million barrels of recoverable resources with characteristics similar to the reserves of the Baúna and Piracaba fields acquired by the Australians last week: they are of the good Oligocene era, considered to be 38 ° API oil.
Karoon expects to increase Baúna production from its current 20,000 bopd to 33,000 b / d by 2022, with Patola accounting for almost a third (10,000 b / d) of that total.
The company plans to conduct two seismic campaigns in the country, one 3D in the fields of Neon, Goia and Clorita, and a 4D covering Bauna, Piracaba and Patola.
“We are thinking of running a 4D seismic campaign in these areas so that we have access to unpaved areas, especially Piracaba,” said Mark Smith, Karoon’s Exploration Director, during an analyst conference last week.
The forecast is to reach recovery factors of 60% in Baúna and 40% in Piracaba.
Karoon has a 100% stake in six blocks in Brazil, all in the Santos Basin (S-M-1037, 1101, 1102, 1165, 1166 and 1537). The acquisition of the BM-S-40 concession is still under approval by the Petrobras governance bodies.
Source: BE Petroleo