Karoon Gas is hoping the purchase of the Bauna and Piracaba shallow-water fields off Brazil will help transform the company, as the Australia-based independent prepares to become operator of its first producing asset.
The $665 million agreement announced last week will see Karoon acquire a 100% stake in the Santos basin development from Petrobras.
Karoon had been chasing Bauna-Piracaba in Block BM-S-40 for the past three years, and expects the deal will pave the way for future growth in the country.
