Karoon maintains investment in Baúna

Apr 30, 2020

Karoon announced on Thursday that it will eliminate discretionary and capex costs, except for those involving the acquisition of the Baúna field, in the Santos Basin. Regulatory approvals and contracting of the project’s FPSO in the Santos Basin have been hampered by the pandemic.

The company will also cut costs, including shrinking the workforce, closing offices and temporary cuts of 20% in compensation for senior management, senior management positions.

Source: PetroleoHoje