Karoon Energy (ASX:KAR) is an ASX listed international oil and gas exploration and production company with assets in Brazil and Australia.
Karoon Energy (ASX:KAR) says its drilling rig has finished drilling and completion activities on the Patola field and installation of wellheads and Christmas trees were finalised in early January 2023.
The rig is now being mobilised to the BAN-1 well location to re-open a lower zone in the well that had previously been in production.
After the BAN-1 intervention is complete, the rig will move to the Neon field to drill the first of potentially two Neon control wells.
Karoon is actively engaging with regulatory authorities to obtain the necessary Neon approvals in a timely manner.
The Patola development is progressing well, with the drilling and completion phase of the project executed without any major safety or environmental incidents.
Patola remains on track to commence production during the first quarter of CY2023.
A broader update on Karoon's activities will be provided in their December 2022 Quarter Report, due for release on 24 January 2023.