Baúna

Baúna Oil and Gas Field Profile

Location

The Baúna Oil and Gas Field is located in the southern Santos Basin, offshore São Paulo, Brazil. Specifically, it is situated in block S-M-1288 with a water depth of approximately 974 feet (297 meters).

Coordinates

The field's coordinates are -26.437, -46.527 (WGS 84).

Operator and Ownership

The Baúna Oil and Gas Field is operated by Karoon Petroleo & Gas Ltda, a subsidiary of Karoon Energy Ltd. Karoon Energy owns the field, having completed the 100% acquisition of the concession BM-S-40 from Petrobras in 2020. The acquisition included both the Baúna and Piracaba oil fields for a price of US$380 million, with the potential for an additional US$285 million plus interest, dependent on oil prices between 2022-2026.

Discovery and Production

The field was discovered in 2008, and production began in 2012. It is currently an operating oil and gas field.

Reserves

• Oil Reserves: The original volume in place for oil is approximately 345 million barrels (bbl).
• Gas Reserves: The original volume in place for gas is about 2,387 million cubic meters (m³).
• Hydrocarbon Reserves: The reserves are classified as 113 million barrels of oil equivalent (boe) as of 2018.

Production

• Current Production: The field produces around 25,000 barrels of oil per day (b/d) from the complex of fields including Baúna, Piracicaba, and Patola.
• Cumulative Production: As of 2015, the cumulative production included 80.87 million bbl of condensate and 586 million m³ of associated gas.
• Peak Production: The field reached its peak production in 2014 and is expected to continue producing until it reaches its economic limit in 2044, having recovered about 56.79% of its total recoverable reserves by that point.

Field Details

• Type: The Baúna field is a conventional oil field located in shallow water.
• Facilities: The field utilizes a floating production, storage, and offloading (FPSO) facility.

Company Overview

Karoon Energy Ltd, the parent company of Karoon Petroleo & Gas, is an ASX-listed company headquartered in Southbank, Victoria, Australia. It operates in Brazil, Australia, and Peru, with the Baúna oil field being its key producing asset. The company is focused on mitigating natural decline through active well management and is pursuing growth opportunities through the Baúna intervention program and the development of the Patola field.

Financial and Strategic Considerations

Karoon Energy is considering bringing in a partner for the Brazil oil project to support further development and growth. The company is also exploring organic and inorganic growth opportunities to leverage its core operating skills.

Additional Information