Production on hold

Karoon announced that production from its Bauna oilfield and the recently on-stream Patola field offshore Brazil will remain suspended into May. Karoon and the fields’ FPSO operator Altera & Ocyan are undertaking both essential and proactive work with the focus on the ongoing detailed inspection of the Cidade de Itajai floater’s production system. Karoon will provide another update on the timing to resume production in its first quarter report which is expected to be issued on April 27th.