The Noble Developer drilling rig has finished drilling and completion activities on the Patola field. Installation of wellheads and Christmas trees on the two Patola development wells was finalised in early January 2023 and work is expected to commence shortly on installing the remaining subsea infrastructure, flowlines, umbilicals and other pipework required to connect the wells to the Cidade de Itajaí FPSO. Commissioning of the new facilities and first production from Patola is targeted to commence by the end of the first quarter of CY2023.

The drilling rig is now being mobilised to the BAN-1 well location, where an intervention to re-open a lower zone in the well that had previously been in production will take place. This is the fourth and final intervention, which was deferred in order to accelerate the Patola development drilling.

Karoon expects that there will be no material impact on the final Baúna intervention cost estimate, as previously provided to the market.

After the BAN-1 intervention is complete, and subject to the receipt of regulatory approvals, it is planned that the drilling rig will then move to the Neon field to drill the first of potentially two Neon control wells. Karoon is actively engaging with regulatory authorities to obtain the necessary Neon approvals in a timely manner, in order to minimise any potential standby time.

Dr Julian Fowles, CEO and Managing Director of Karoon, said: “The Patola development is progressing well, with the drilling and completion phase of the project executed without any major safety or environmental incidents. Patola remains on track to commence production during the first quarter of CY2023. The receipt of final environmental approvals for the Neon drilling has been impacted by the recent change of federal administration in Brazil. Consequently, we shall undertake the final planned intervention in the Baúna field, on BAN-1, prior to moving to Neon.