Karoon Energy restarts operations at Baúna

Karoon Energy (ASX:KAR) has announced the resumption of production at the Baúna Project. This follows a temporary shutdown caused by a failed anchor chain in the FPSO's mooring system. Production recommenced on December 22, 2024, after the repair and required regulatory approvals. Karoon aims to soon return to a production level of approximately 24,500 barrels of oil per day.

Karoon Energy's production outlook and safety measures

Karoon Energy Ltd has successfully resumed production at the Baúna Project after addressing a critical anchor chain failure. The company is working towards restoring production to its previous level of 24,500 barrels per day before it experiences a natural decline rate of 15% annually. A second anchor chain repair is expected by mid-January to ensure stability. This proactive approach, alongside an investigation into the anchor chain failure, highlights Karoon's commitment to operational safety and reliability. Karoon Energy continues to focus on being a leading independent energy company, emphasizing safety and responsibility in its operations.

Karoon Energy's strategic response to anchor chain failure

Karoon, along with the FPSO owner and operator Altera&Ocyan, is investigating the cause of the anchor chain failure to prevent future issues.