Brazilian FPSO on track to change hands by month end

(offshore-energy.biz) Australia’s oil and gas company Karoon Energy is moving forward with the acquisition of a floating production, storage, and offloading (FPSO) vessel, which is deployed on its project off the coast of Brazil. Once the firm takes over the ownership of the unit from the FPSO’s current owner and operator, Altera & Ocyan (A&O), it will pick a new operation and maintenance (O&M) contractor.

After entering into negotiations with Altera & Ocyan regarding the potential acquisition of the FPSO Cidade de Itajaí, which is working at its operated Baúna project in BM-S-40, Karoon Energy has now confirmed this purchase is progressing in line with the timetable issued in February 2025.

As a result, the transaction remains on schedule to close at the end of April 2025, with the selection of the new O&M contractor for the FPSO Baúna targeted to be completed by midyear. The company will update its production guidance once it assumes ownership of the FPSO, handpicks the new O&M contractor, and completes the planning for the next phase of maintenance.

In addition, the updated 2025 cost guidance is expected to be provided once the terms of the new O&M contractor are known. The FPSO was expected to be offline for a month during the replacement of a faulty gas lift valve as part of the Australian operator’s scheduled production shutdowns for planned maintenance.

Read full article: https://www.offshore-energy.biz/brazilian-fpso-on-track-to-change-hands-by-month-end/