Karoon Gas Australia closes in on deal with Petrobras over offshore Brazilian oilfields
Karoon is understood to have struck an exclusivity deal with Brazil’s Petrobras over talks to buy into offshore fields.
Karoon Gas Australia is understood to have struck an exclusivity deal with Brazilian oil giant Petrobras over talks to buy into the Bauna and Tartaruga Verde fields offshore Brazil.
If the talks result in a deal, it will transform the Melbourne-based explorer (KAR) into a producer.
The deal, if finalised, will see Karoon take a 100 per cent stake of Bauna, giving it about 45,000 barrels a day of production in the shallow waters of the Santos Basin and a 50 per cent stake in the big Tartaruga field, which is about a year away from production.
The move would give Karoon access to about 120,000 barrels a day of production if finalised.
An announcement is expected today.
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