Industry Segment: Market Brief | Word Count: 108 Words

Karoon Energy (AU) plans to increase its investment portfolio in Brazil. The company currently owns the licenses to operate five offshore blocks in the Santos Basin in Brazil. For the development of their fields with proven reserves, Karoon plans to install a medium-scale floating production, storage and offloading vessel to process Neon field production from 2023, and incorporate a tie-back to Goia field production in 2026. Recently, Karoon Petroleo e Gas LTDA acquired from Petrobras the interests of the Bauna and Patola fields, where the company plans to invest $ 60 Million between 2021 and 2024.