May 1 – Independent oil company Karoon Energy announced the completion of the transition of operations of the Baúna FPSO (formerly called Cidade de Itajaí). To recap, the platform was acquired from Altera & Ocyan (A&O) in April of last year for US$115 million plus approximately US$8 million in transaction costs. Since then, the two companies have carried out a process to transfer the operation of the asset. The FPSO currently produces in the Baúna field, in the Santos Basin.
According to Karoon, the completion of the transition was carried out after a period of internal preparation by the company, which included hiring professionals, transferring contracts, implementing management systems and processes, and obtaining the necessary regulatory approvals in Brazil.
In line with Karoon’s strategy of maintaining operational continuity, more than 80% of the team that already worked on the FPSO was incorporated by the company and its main maintenance contractor, Gran Services.
“2026 has been one of the busiest years in Karoon’s history, with more than 700 people involved in executing our strategic work fronts, including the safe transition of the FPSO operation. This transfer of operations represents an important milestone for Karoon and symbolizes the company’s evolution into a full-cycle operator in offshore oil and gas production,” said Karoon’s CEO and Managing Director, Carri Lockhart.
The executive also stated that the FPSO operation is of strategic importance to Karoon. “We are committed to maintaining strong performance in safety and reliable operations, generating value for the Baúna Project for many years to come,” she concluded.
Brazil Energy Insight 
Leave a comment