Karoon plans new rig intervention at Baúna after SPS-92 electrical fault

Karoon Energy is preparing another rig-based intervention on the SPS-92 well at the Baúna Project, offshore Brazil, after an electrical fault affected the recently installed system supplying its downhole electric submersible pump.
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The fault was detected on September 21. Karoon carried out a controlled shutdown the following day and later confirmed a fault in one of the three electrical phases of the newly installed power cable.
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The ESP has since been restarted on two phases and is operating under a conservative operating envelope.
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According to Karoon, SPS-92 produced 8,250 bopd during its latest well test on September 16. Following the electrical fault, production is currently around 4,700 bopd, representing approximately 3,500 bopd of deferred output.
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The timing is significant: the new ESP and cable system had been operating for just 87 days.
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SPS-92 returned to production in late June following a previous rig-based intervention to replace its ESP. At the time, the well was producing approximately 8,600 bopd.
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Karoon now expects another rig intervention will be required to restore full operability. The company has an existing option over a suitable drilling rig and has started planning the campaign, including permitting, equipment and services.
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Karoon also confirmed that the rig used for the previous SPS-92 intervention will not be used for the new campaign. The replacement unit has not yet been identified.
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The company has started discussions with Ibama to determine whether the new intervention could be treated as a second phase under the previous environmental permits. Timing remains dependent on regulatory approvals, rig availability and supporting services.
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As a result of the reduced SPS-92 output, Karoon has lowered its 2026 Baúna production guidance from 6.0–6.7 million barrels to 5.4–5.7 million barrels. The company currently does not expect the deferred production to affect Baúna reserves.