Australia’s Karoon Energy has successfully completed the acquisition of the Cidade de Itajaí FPSO, which is currently operating in the Baúna field located in Brazil’s Santos Basin. The deal was carried out through Karoon’s wholly owned Brazilian subsidiary, Karoon Petróleo & Gás.
The FPSO was acquired from joint operators Altera & Ocyan (A&O) for a total of $115 million, with an additional $8 million in transaction-related costs, the company confirmed on Thursday.
Karoon noted that a tender process is already underway to appoint a new service provider to operate the FPSO on its behalf. This process is expected to be concluded by mid-2025, aligning with the company’s strategy to optimize production and operational control in Brazil.
The acquisition marks a key milestone in Karoon’s plan to strengthen its position in Brazil’s offshore oil sector and enhance control over its core production assets.
