Karoon Energy (ASX:KAR) reported that its Bauna project in Brazil restarted oil production after shutting down for annual scheduled maintenance, according to a Wednesday Australian bourse filing.
Its output has since ramped up to around 26,500 barrels of oil per day. After a short period of flush production, a natural decline of around 15% per annum is expected to resume, per the filing.
The SPS-88 well intervention was completed, with the well resuming production sooner than anticipated due to earlier intervention vessel availability, as well as a shorter duration operation than expected.
Initial flow rates from the well are in line with expectations, with current production at around 2,000 barrels of oil per day on a restricted choke and gradually being opened further, the filing said.
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