Karoon Energy's Baúna Project shutdown

Karoon Energy (ASX:KAR) has issued an operational update on its Baúna Project. Production was halted on December 11, 2024, due to the failure of two anchor chains on the FPSO vessel Cidade de Itajai. The company is collaborating with Altera&Ocyan to repair the chains, aiming to restart production in the week of December 23, 2024, following necessary approvals.

Karoon Energy's production outlook and strategy

Karoon Energy has revised its 2024 production guidance due to the temporary shutdown of the Baúna Project. The expected output has been adjusted from 7.5 - 7.7 million barrels to 7.2 - 7.4 million barrels. The Who Dat field's guidance has also been slightly reduced to 2.9 million barrels of oil equivalent, influenced by extended maintenance from Hurricane Rafael. The total annual guidance is now set between 10.1 - 10.3 million barrels of oil equivalent. The company's strategic focus remains on safety and efficient energy production, ensuring stakeholder satisfaction despite operational challenges.

Executive insights on Baúna Project incident

The FPSO remains stable, and safety measures are our top priority. We are focused on repairing the chains and resuming production promptly while ensuring the protection of our personnel and the environment.