Karoon Energy, an ASX-listed international oil and gas exploration and production company, has restarted another well in an oil field off the coast of Brazil.
Caron confirmed the resumption of production from the PRA-2 well Paona fieldafter completing the intervention activity in the well to reconnect the umbilical and reconnect with the electric submersible pump. FPSO Itajay city He works in the field.
While the well umbilical was unexpectedly disconnected in October 2025 from the FPSO, the PRA-2 well returned to operation on July 6, 2026. The well is currently producing 1,000 to 1,200 barrels of oil per day.
As a result, the Pawna Project’s total production is approximately 22,000 barrels of oil per day, including a contribution of approximately 8,600 barrels of oil per day from SPS-92. The operating company confirmed that all production wells associated with the project are now in service.
Carrie LockhartCEO and Managing Director of Caron commented: “During the first half of 2026, we committed to restoring production and enhancing the performance and reliability of our Paona assets. We delivered on these commitments safely and on schedule.
“With Baúna’s major capital work programs now complete, Karoon is entering a phase of improving performance and maximizing value from those investments. Pleasingly, since the FPSO revitalization campaign, the Baúna FPSO has been performing at the upper end of the targeted 90-95% operating efficiency range.”
The Brazilian claims that this represents another step towards that Higher productionReduced capital spending and stronger cash flow generation in the second half, subject to oil prices and operational performance remaining in line with expectations.
Lockhart confirmed: “As we head into the second half of 2026, our low cost base, attractive operating balance and production profile positions the company to achieve high cash flow margins, strengthening our balance sheet and supporting disciplined capital allocation and long-term shareholder value creation.”
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