Karoon Energy decision over progressing Santos Basin oil discovery to FEED entry stage due in spring

(offshore-energy.biz) Australia’s oil and gas company Karoon Energy is expected to make up its mind around April 2025 about moving forward with the next stage of development, which represents the entry into front-end engineering design (FEED), for an oil field discovery in the Santos Basin off the coast of Brazil.

While Karoon hired a rig in April 2021 to perform well intervention on four wells at the Baúna field, once the Maersk Developer rig, which is now called Noble Developer, was done with this campaign, it was expected to drill two development wells on the Patola field, thanks to addition in June 2021, and one or potentially two control wells on the Neon oil discovery, which was added in May 2022. 

Since then, the firm has continued with the exploration, appraisal, and development activities in the pre-salt Santos Basin. According to the operator, the Neon project team made good progress in the fourth quarter of 2024 on phase 2, also called the select stage, including updating the Neon reservoir models based on reprocessed seismic datasets, seismic inversion reservoir characterization products, and finalized core studies.

The Australian player claims these reservoir models will form the basis for updated reservoir development studies, aimed at optimizing the development plan and capex requirements, generating production profiles, and estimating the recoverable resource range. Karoon also continued to screen potential production units to identify the optimal candidate for redeployment on Neon.

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