Exploratory Drilling Project – Phase 2

Description of the drilling project

The Karoon project involves the drilling of wells in the seabed by using a MODU in the search for commercial hydrocarbons. This activity will not leave any permanent structure since it is carried out during the project exploration stage. As stated in the EIA-S, the drilling of wells will take approximately between two and three months. When the drilling and data collection have been completed, the well will be sealed and abandoned. Once the well has been sealed and abandoned, the MODU will be transferred to a new well or it will be demobilized.

For this project, the type of MODU to be used will be a semi-submersible platform or a drillship. The MODU will be anchored or dynamically positioned. Exploration in deep waters implies various challenges including from logistics and safety aspects to technical aspects. These challenges include the drilling in deep waters of 250 m or more below the sea level and more than 5 nautical miles from the coast. Another challenge is the logistics to move the equipment, materials, provisions and waste 85 to 110 nautical miles through the support vessels between the wells and the Port of Paita. These activities will be carried out by contractors under Karoon’s constant supervision. These contractors have the equipment, technology and expertise to carry out the drilling in deep waters, as well as staff especially trained to operate the equipment safely.

Karoon plans to use the facilities of the Port of Paita for the supply maritime base. The Port of Paita was chosen because it was the only port with the draft and requirements necessary to support an operation in deep waters in the coast of northern Peru.