Independent oil and gas producer Karoon Energy has restored production at its PRA-2 well, located within the Baúna project in offshore Brazil.
The achievement marks the return to service of all production wells at the asset, positioning the company for heightened financial performance in the back half of the year.
The company confirmed that a targeted subsea intervention successfully reconnected the PRA-2 control umbilical, re-establishing vital connectivity to the well’s electrical submersible pump.
The umbilical had unexpectedly disconnected from the field’s floating production storage and offloading (FPSO) vessel in October 2025, halting production from the well.
The PRA-2 well is currently undergoing a standard clean-up phase and is flowing at a rate of between 1,000 and 1,200 barrels of oil per day (bopd).
The restart has pushed total production at the Baúna project to approximately 22,000 bopd. This total includes a strong ongoing contribution from the SPS-92 well, which continues to stream at roughly 8,600 bopd following its own recent mechanical intervention.
Karoon Energy CEO Carri Lockhart said: “Over the first half of 2026, we committed to restoring production and strengthening the performance and reliability of the Baúna assets.”
With major capital expenditure programs at Baúna now concluded, the company is shifting its strategic focus toward operational efficiency and cash preservation.
Since completing a recent revitalisation campaign, the Baúna FPSO has consistently performed at the upper end of its 90 to 95 per cent operating efficiency target.
“As we head into the second half of 2026, our low-cost base, attractive operating break-even and production profile position the company to generate high cash flow margins, further strengthening our balance sheet and supporting disciplined capital allocation and long-term shareholder value creation,” Lockhart said.
