Karoon Energy has completed the transition process and officially assumed operatorship of the Baúna FPSO, formerly known as Cidade de Itajaí, in May.
The company acquired the FPSO from Altera Infrastructure and Ocyan in April 2025 for US$115 million, excluding transaction-related costs. Since then, Karoon and A&O have carried out an extensive transition program covering personnel, contracts, management systems and operational processes.
To support the handover, Karoon recruited personnel, transferred key service agreements and implemented new management systems, while securing all required regulatory approvals in Brazil.
According to the company, the transition was completed without disrupting operations. More than 80% of the existing FPSO workforce remained with the project, helping maintain operational continuity at the Baúna field in the Santos Basin.
CEO and Managing Director Carri Lockhart stated that more than 700 people participated in the company’s strategic initiatives throughout the transition process. She added that assuming operatorship of the FPSO represents an important milestone in Karoon’s evolution into a fully integrated offshore oil and gas operator.
