Karoon Energy Assumes Operatorship of Floating Oil Production Facility for Brazil Project; Shares Down 3%

MT Newswires Live

05/29

Karoon Energy (ASX:KAR) assumed operatorship of the Cidade de Itajaí, a floating production, storage, and offloading vessel used for its Bauna project in Brazil, according to a Friday filing with the Australian bourse.

The formal operator transition from Altera & Ocyan occurred on Thursday following the company's acquisition of the vessel on April 30, 2025, the filing said.

Over 80% of the existing team transferred to the company and its major maintenance contractor, per the filing.

Karoon Energy shares fell nearly 3% in morning trade Friday.

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