Karoon suspends production

The Australian oil company has shut down Baúna´s field production due to a containment incident associated with the high-pressure flare on FPSO Cidade de Itajaí. According to the company, production stoppage happened on March 28th, 2023 in a safe and controlled manner. Altera&Ocyan, the FPSO operators, investigated the source of the leak and made the necessary repairs by March 30th. However, Karoon and Altera&Ocyan have decided to postpone production restart to undertake a full inspection and testing of associated systems. It is expected that production will restart by mid-April.