Karoon Energy announced that it has commenced the drilling of the Marina‐1 exploration well located in Block Z‐38 Tumbes Basin, Peru.
The wholly owned, Karoon subsidiary, KEI (Peru Z‐38) Sucursal del Peru is the operator and has a 40 per cent net interest in Block Z‐38.
The drilling operation is estimated to take 30 days and shall drill to approximately 3000 metres subsea.
The Marina prospect has a gross prospective resource best estimate of 256 million barrels of oil (net to Karoon 102 million barrels) as previously announced in the “Resources Update” in 8th May 2018.
Karoon said that the Marina prospect comprises a large fault bounded structure with targets at multiple levels from 900m subsea to 3000m. The targets are in the Tertiary Pliocene La Cruz to Cardalitos formations.had spud the Marina-1 exploration.