Karoon Energy restarted its BM-S-40 production

Karoon Energy Limited (ASX: KAR) announced that production from its 100% owned and operated BM-S-40 production license resumed on 09 May 2023 following the completion of maintenance activities on Train 1 of the two production trains on the FPSO, Cidade de Itaja. Following a scheduled progressive ramp-up of Train 1 and the completion of Train 2 maintenance work, Train 2 production resumed on 11 May 2023.

Six of the seven production wells, including the two Patola wells, are already producing at or above 32,000 bopd, and daily rates are continuing increasing. After a brief stabilization period, production is predicted to drop to a stabilized rate of roughly 33,000 to 35,000 bopd before beginning a steadier natural decline phase that would last until FY2024 and beyond.

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