Karoon, which disclosed plans for a floating production, storage, and offloading (FPSO) revitalization campaign and a life extension project in August 2025, has resumed production from the Baúna project, following a 28-day facilities shutdown for planned maintenance in conjunction with the flotel-supported maintenance and revitalization campaign.

In the aftermath of a production ramp-up period, Baúna is producing at a rate of approximately 11,500 bopd, prior to natural decline resuming, with an additional 9,000 – 10,000 bopd expected to be brought back online around mid-year, subject to the replacement of the electric submersible pump (ESP) in SPS-92, currently underway, and the recovery and reconnection of the PRA-2 umbilical planned for early 3Q 2026.

The maintenance shutdown, which began on April 14, 2026, was completed on time and is anticipated to be within budget. The delivered work scope entailed replacing several sections of piping, including the production header system, upgrading critical systems, and replacing parts of structural elements and fittings.

In addition, the campaign encompassed piping and structure surface treatment, painting of several areas, including decks, structures, piping, and the flare stack, and performing underwater hull inspections on the FPSO Baúna.

Marco Brummehuis, Executive Vice President & Country Manager of Karoon Brazil, commented: “I am delighted with the outstanding delivery of this complex maintenance project. More than 130,000 man-hours of work were executed with zero injuries, during shutdown campaign. This was a remarkable team effort from our employees and contractor base, and I’d like to sincerely thank everyone involved.”

The flotel-supported maintenance and revitalization campaign, which started on February 6, 2026, is progressing as planned, with the work scope being executed both during live operations and the recent 28-day shutdown, covering the replacement of more than approximately 100 tonnes of piping and structures, and the painting of approximately 20,000 square meters of infrastructure.

The maintenance shutdown and flotel campaign work are expected to lead to material improvements in system stability and provide sustained FPSO uptime, within the range of 90 – 95% efficiency. The Baúna project comprises the Baúna, Piracaba, and Patola fields in concession BM-S-40 offshore Brazil.

The FPSO Cidade de Itajaí, which is capable of operating in water depths of up to 1,000 meters, began operating in Brazil in February 2013. This unit can produce 80,000 barrels of oil per day and compress 2 million cubic meters of gas a day.

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