What is the current production volume at the Baúna Project following the restart?

Following a standard production ramp-up period, the Baúna field is currently producing approximately 11,500 barrels of oil per day (bopd). Management expects this volume to increase as further infrastructure is brought back online later in the year.

What are Karoon Energy’s (ASX:KAR) short-term production targets for the Baúna Project?

Karoon Energy aims to bring an additional 9,000 to 10,000 bopd of capacity back online around mid-2026. This would significantly increase total output from the current post-restart level of 11,500 bopd.

What operational milestones must Karoon Energy (ASX:KAR) hit to reach full production capacity?

To unlock the additional 9,000 to 10,000 bopd, the company must successfully complete the ongoing replacement of the electric submersible pump in the SPS-92 well. It also requires the recovery and reconnection of the PRA-2 umbilical cable, which is scheduled for early in the third quarter of 2026.

How does this maintenance shutdown affect the long-term investment thesis for Karoon Energy (ASX:KAR)?

The successful shutdown reduces near-term operational risk by addressing structural integrity and upgrading critical systems. By replacing aged piping and treating infrastructure, the company is targeting a sustained FPSO uptime efficiency of 90% to 95%, which should support more stable, predictable cash flows moving forward.

Image for illustrative purposes only. Not a real photo.

Karoon Energy resumes production at Baúna Project

Q: Why did Karoon Energy (ASX:KAR) halt production at its Baúna Project?

Karoon Energy temporarily paused operations for a planned 28-day facilities maintenance and revitalisation shutdown that began on 14 April 2026. The campaign involved replacing over 100 tonnes of piping and structural elements, upgrading critical systems, and conducting underwater hull inspections on the FPSO. Operations have now successfully resumed on time and within budget.

Written by Liezl GambePublished May. 18 2026Last Updated May. 18 2026

Karoon Energy (ASX:KAR) said production has resumed at the Baúna Project following the completion of a planned 28-day facilities shutdown.

The operation, which commenced on April 14, was delivered on time and within budget as part of a wider flotel-supported maintenance and revitalisation campaign that began in early February.

Following a standard production ramp-up period, the field is currently producing approximately 11,500 barrels of oil per day.

Operators expect to bring an additional 9,000 to 10,000 bopd back online around mid-year.

The targeted increase remains subject to the ongoing replacement of the electric submersible pump in SPS-92 and the subsequent recovery and reconnection of the PRA-2 umbilical, scheduled for early in the third quarter of 2026.

The extensive work scope involved replacing over 100 tonnes of piping and structural elements—including the production header system—alongside upgrading critical systems and performing underwater hull inspections on the Baúna FPSO.

Surface treatments and painting covered roughly 20,000 square metres of infrastructure. These upgrades are anticipated to materially improve system stability, targeting a sustained FPSO uptime efficiency of 90% to 95%.

Marco Brummehuis, Executive Vice President and Country Manager of Karoon Brazil, praised the execution of the complex project, highlighting that more than 130,000 man-hours of work were completed with zero injuries.

At the time of reporting, Karoon Energy’s share price was $2.09.