Karoon Energy Ltd. restarted production from its BM-S-40 production license incorporating Bauna, Piracaba, and Patola fields offshore Brazil following completion of maintenance works on Train 1 of the two production trains on the FPSO Cidade de Itajaí.
Train 2 production restarted on May 11 following a planned gradual ramp-up of Train 1 and the completion of Train 2 maintenance works.
Production from BM-S-40 is currently over 32,000 b/d of oil from six of seven production wells, including two Patola wells, with daily rates continuing to rise. Peak rates over 40,000 b/d of oil are targeted over the next week. Production is then expected to decline to a stabilized rate of about 33,000-35,000 b/d of oil within a few weeks before entering a more gradual natural decline phase, the company said.
Annual maintenance shutdown is still expected to take place in July, although the scope and timing are being examined to determine if shutdown can be deferred given the work that has already taken place.
In November 2020, Karoon completed the acquisition of 100% of the BM-S-40 concession from Petrobras.