Karoon confirms oil at second Kangaroo well

Tuesday, December 23, 2014

Karoon Gas Australia has confirmed the presence of hydrocarbons at the Kangaroo-2 appraisal well off Brazil's southeast coast.

In a statement on Tuesday, the Melbourne-based firm said drilling had identified a 250m oil column in Cretaceous and Paleocene-aged reservoirs

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"A decision on a potential side-track program will be made on completion of the testing programs," Karoon said.

Additional reservoir interval tests aboard the Olinda Star semi-submersible rig were expected to begin within a week.

The vessel has also been earmarked to drill the Kangaroo West prospect, about 4.5km from Kangaroo-2.

The Kangaroo area is located in the Santos basin's S-M-1165 block off the coast of São Paulo state.

Karoon holds a 65% operating stake in the block alongside Canada's Pacific Rubiales.