Karoon Energy, Australia's energy company, reduces its outlook for Brazil project

Karoon Energy, an Australian oil and gas company, said that it has reduced the production forecast for its Bauna Project in Brazil because of operational disruptions.

After the disruptions, the company reduced its production forecast for 2024 for the Bauna Project to 7.2-7.4 millions barrels of crude oil. The previous outlook was 7.5-7.7million barrels.

Karoon reported that two of the 16 chains used to lift the floating production storage offloading system (FPSO) failed. This caused the Bauna Project to be shut down in December 11.

The company has said that it has mobilised a vessel to handle anchors with FPSO operator Altera&Ocyan in order to help with the positioning of the system, and a second vessel to repair anchor chains.

The company stated that the Bauna project will resume production in the week of December 23, after repairs have been completed on one anchor chain.

Karoon has also reduced its production forecast for its Who Dat Project in the U.S. Gulf of Mexico, to 2.9 millions barrels of equivalent oil as the maintenance shutdown period was extended due to hurricane Rafael.

(source: Reuters)