Karoon's Brazilian FPSO Efficiency Hits Record High
Karoon Energy, an oil and gas exploration and production company listed on the Australian Securities Exchange (ASX), has reported a significant improvement in operating efficiency at its floating production, storage, and offloading (FPSO) unit deployed on the Baúna field off the coast of Brazil.
The FPSO Cidade de Itajai, which operates on the Baúna field, achieved an operating efficiency of 97.2% in the second quarter of 2026, exceeding its target range of 90-95%. This improvement was attributed to a revitalization and maintenance campaign that reinstated approximately 10,000 barrels of oil equivalent per day (bopd) of production.
Karoon produced 1.08 million barrels of oil equivalent (boe) in the second quarter of 2026, with an average rate of 9,202 bopd. The company generated sale revenue of $116.4 million, driven by higher realized oil prices.