Australia's Karoon Energy has offloaded its first oil cargo from the Baúna offshore oil field in Brazil it recently bought from Petrobras.
The shipment produced by the FPSO Cidade de Itajaí, amounted to over 500,000 barrels of oil.
The cargo has been loaded onto the Lambada Spirit shuttle tanker for transfer to a Very Large Crude Carrier and ultimate delivery to the Asian market.
"The recent rally in global oil prices will be reflected in the terms of the shipment’s sale and is expected to provide a positive boost to Karoon’s forecast revenue," Karoon said.
Karoon’s CEO and Managing Director, Julian Fowles said: "The offloading of this oil cargo marks an enormously important step in Karoon’s transformation into a significant oil producer. It is a remarkable achievement for Karoon and all of those involved in the delivery of this project should be very proud.”
Baúna, which Karoon now owns with a 100% interest, includes 6 oil production wells, 3 water injection wells, and 1 gas injection well exploiting 2 reservoirs (Baúna & Piracaba). All wells are subsea completions with tie-ins back to the TeekayOcyan-owned FPSO Cidade de Itajaí.
The field started production in 2011 and had produced 129.9MMbbl up to 30 June 2020.
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