ANP approves revision of Karoon’s Bauna U$378MM Development Plan  

(PN) The National Petroleum Agency (ANP) approved the revision of the Development Plan for the Baúna field, presented by Australian Karoon – operator of the area. With the actions proposed in the plan, the oil company intends to invest around US$ 378 million in the field, increasing the oil reserves and the recovery factor in the area.

In reviewing the Development Plan, Karoon proposed optimizing the lifting system in wells SPS-92, PRA -2 and SPS-56 and draining the lower zone of well BAN-1. In addition, the oil company also intends to develop the Patola reservoir. With these measures, the expectation is that the field’s reserves will be increased from 14 million to 54 million barrels. Recovery factor should be increased from 39% to 49%. Karoon also assesses that it will be possible to extend the useful life of the field from 2026 to 2032.

The ANP also approved the revision of Baúna’s royalties on incremental production, pursuant to resolution 749/2018. As a reminder, this resolution regulates the procedure for granting royalty reductions of up to 5% on incremental production from mature fields. The accumulated production of the Baúna field, considering its three reservoirs, reaches 78.3% of the total recovered volumes, which makes the asset eligible to receive the benefit of resolution 749/2018.

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