by Marta Nogueira
RIO DE JANEIRO (Reuters) – Australia’s Karoon plans to publish a strategic plan on the 28th in which it will point out in more detail its goal of expansion in Brazil, as an oil company and with environmental commitments, said the country’s new president, Antonio Guimarães .
After becoming a production company last year, Karoon has plans to double oil extraction by 2023 in Brazil, but also seeks new growth opportunities through acquisitions, especially in the Santos Basin.
Guimarães, who was executive director of exploration and production at the Brazilian Petroleum Institute (IBP) for many years, took over the company’s leadership at the beginning of the month, one of the challenges being to make the oil company more active in the Brazilian market, with a focus on a responsible growth.
“We defined that we want to grow in Brazil,” said the executive, who also recently served as Shell’s National Upstream Coordination director in the country. “Here we will stay and here we will grow.”
In a videoconference interview this week, Guimarães highlighted that Karoon will reinforce its role as an oil company in the strategic plan, with a focus on maritime assets, and attentive to environmental responsibilities.
Without giving details, Guimarães stated that the strategic positioning to be published will present objectives related to the reduction of emissions and offsets, in an initiative that could make it one of the pioneers among its peers in Brazil and Australia.
“We are going to operate as a responsible company”, he pointed out.
Karoon recently became an oil producer in the country, completing the acquisition of 100% of the Baúna field, in shallow waters in Petrobras’ Santos Basin, last year.
Now, the Norwegian company plans to invest around US$300 million to double production in the Baúna area, which currently produces more than 14,000 barrels of oil equivalent per day, by the beginning of 2023.
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