Karoon Energy has returned all production wells at its Baúna project offshore Brazil to service after restarting the PRA-2 well, lifting field output to about 22,000 barrels of oil per day (bpd).
Production from the PRA-2 well resumed on July 6 following a well intervention to reconnect the umbilical and re-establish connectivity to the electrical submersible pump. The well is currently cleaning up and producing between 1,000 bpd and 1,200 bpd.
The restart means all production wells associated with the Baúna project are now in operation, with the field's output including a contribution of approximately 8,600 bpd from the SPS-92 well.
The PRA-2 well had been offline since October 2025 after its umbilical unexpectedly disconnected from the floating production, storage and offloading (FPSO) vessel.
Karoon said having all production wells back in service marks another step toward higher production, lower capital expenditure and stronger cash flow generation in the second half of 2026, subject to oil prices and operating performance remaining in line with expectations.
“Over the first half of 2026, we committed to restoring production and strengthening the performance and reliability of the Baúna assets. We have delivered those commitments safely and on schedule.
“With Baúna’s major capital work programs now complete, Karoon is entering a phase of optimising performance and maximising value from those investments. Pleasingly, since the FPSO revitalisation campaign, the Baúna FPSO has been performing at the high end of the targeted 90-95% operating efficiency range.
“As we head into the second half of 2026, our low-cost base, attractive operating break-even and production profile position the Company to generate high cash flow margins, further strengthening our balance sheet and supporting disciplined capital allocation and long-term shareholder value creation,” said Carri Lockhart, Chief Executive Officer and Managing Director of Karoon.