en.Wedoany.com Reported - Karoon Energy has restored production from the SPS-92 well in the Baúna field, Santos Basin, Brazil, to 8,600 barrels of oil equivalent per day (boe/d) following a well intervention, boosting total field output to approximately 20,500 boe/d.

The operation involved replacing the electric submersible pump (ESP). The SPS-92 well had previously experienced a partial ESP failure in August 2025, reducing production to around 4,500 boe/d. Karoon expects an additional 1,000 to 2,000 boe/d when the PRA-2 well resumes production, with work to reconnect the subsea umbilical already underway.

Karoon Energy CEO Carri Lockhart stated that the company has strengthened and protected operations at Baúna as planned, with revitalization activities for the FPSO and flotel completed. The restart of the SPS-92 well, combined with health, safety, and environment (HSE) performance, marks a transition from a high-investment phase to one expected to generate strong cash flow. She added that entering the second half of 2026, production has significantly increased and the operational platform is more robust. The intervention cost for the SPS-92 well exceeded initial expectations, but it restored a high-margin, low-breakeven well. With Brent oil prices at $60 to $70 per barrel, FPSO operational efficiency between 90% and 95%, and annual operating cost savings of $30 million to $40 million post-FPSO transition, Baúna is expected to generate strong operating cash flow.

The company explained that a preventive workover intervention was performed on the SPS-92 well to restore production and regain this highly profitable production stream. Due to weather-related downtime, downhole debris, and equipment-related non-productive time during operations, the final cost was higher than anticipated. Karoon stated that these factors did not affect the production restart but led to an upward revision of the Baúna field's capital expenditure (capex) forecast.