Fault at SPS-92 Well in Brazil's Baúna Field Defers Approximately 3,500 Barrels per Day

en.Wedoany.com Reported - On September 28, Karoon Energy disclosed that an electrical fault occurred in the power supply system of the newly installed downhole electrical submersible pump (ESP) at the SPS-92 well in the Baúna field, Santos Basin, Brazil. The company expects approximately 3,500 barrels per day of crude oil production to be deferred before repairs are completed, and has initiated a rig-based intervention workover plan. Affected by the production decline at this well, Karoon has revised down the full-year 2026 production guidance for the Baúna project from 6.0–6.7 million barrels to 5.4–5.7 million barrels.

The fault initially appeared in the SPS-92 well monitoring system. Karoon placed the well on controlled shutdown on September 22 to protect the ESP and inspect the system, subsequently confirming that one of the three phases of the newly installed power cable's three-phase power supply had failed. The downhole ESP is currently operating at reduced load on two-phase power supply, and restoring full production capacity will require a drilling rig intervention to replace the faulty cable system.

Karoon has already secured an option on a suitable drilling rig and has begun advancing intervention permits, equipment, and service preparations. The specific timing of operations remains subject to regulatory approvals and the availability of related services. The company is also continuing to investigate the root cause of the fault and is assessing equipment warranty and insurance claims; based on current preliminary assessment, insurance may cover part of the production losses and compensate for most of the workover and repair costs, with the final amount depending on insurance terms and underwriter confirmation.

This round of faults at SPS-92 occurred less than three months after production was restored from the previous workover. The well had previously undergone a rig-based intervention due to issues with the downhole ESP system, and Karoon announced the restoration of production at SPS-92 at the end of June 2026. The previous workover plan included removing the original ESP system and installing a new ESP and associated power system; by the end of 2025, the company had prepared a replacement ESP for this operation and planned to carry it out via a semi-submersible drilling rig.

SPS-92 is also an important production well for the Baúna project. In August 2025, due to a fault in one of the three downhole ESP power cables, production at this well dropped from approximately 8,500–9,000 barrels per day to approximately 2,500–3,000 barrels per day, after which Karoon decided to carry out a rig-based intervention workover. Following the commissioning of the new system, a cable phase fault has occurred again, and the company currently does not expect this round of approximately 3,500 barrels per day of deferred production to affect the reserves of the Baúna field.

The Baúna project is located in the BM-S-40 production area of the Santos Basin, Brazil. Karoon holds a 100% interest and serves as operator. The project includes producing reservoirs such as Baúna, Piracaba, and Patola. With the adjustment to Baúna production guidance, Karoon has simultaneously revised down its total group production expectation for 2026 to 6.6–7.2 million barrels of oil equivalent, while the annual production guidance for the Who Dat project remains unchanged.