Karoon Energy Restarts Well Production and Boosts Bauna Field Output to 22,000 bpd

July 14 – Karoon Energy announced the resumption of production from the PRA-2 well at the Baúna field following an intervention that restored the umbilical connection and power supply to the electric submersible pump (ESP). Consequently, total field production has reached approximately 22,000 barrels per day, including a contribution of around 8,600 barrels per day from the SPS-92 well, which also recently resumed production following an intervention.

According to Karoon, all producing wells at the Baúna field are back in operation. The company views this result as another step toward increasing production, reducing capital expenditure, and strengthening cash generation in the second half of 2026, provided that oil prices and operational performance remain within expectations.

In October 2025, the company had reported that the well’s umbilical had unexpectedly disconnected from the FPSO, halting production. The well resumed operations on July 6, 2026, and is currently undergoing stabilization, producing between 1,000 and 1,200 barrels of oil per day (bpd).

“During the first half of 2026, we committed to restoring production and strengthening the performance and reliability of the Baúna assets. We achieved these goals safely and on schedule,” stated Karoon CEO and Managing Director Carri Lockhart. According to the executive, with the completion of major investment programs at the field, the company is now entering a new phase focused on optimizing operational performance and maximizing returns on the investments made.

Lockhart also highlighted that, since the FPSO revitalization campaign, the unit has been operating at the upper end of the operational efficiency target set by the company—between 90% and 95%. “We enter the second half of 2026 with a competitive cost structure, a low operational break-even price, and a production profile that positions the company to generate high cash margins, further strengthening our balance sheet and supporting disciplined capital allocation and long-term shareholder value creation,” he concluded.