Karoon hits Pacific with another default notice

Karoon Gas Australia has once again served default notices to Pacific Exploration and Production, its joint venture partner in the Santos Basin blocks offshore Brazil, related to overdue payment. 

Karoon Gas Australia has 65% operated interest in five Santos Basin Brazil blocks, S‐M‐1037, 1101, 1102, 1165 & 1166, while Pacific holds the remaining 35% interest.

The Australian company said on Friday that default notices are consistent with its rights under the relevant Joint Operating Agreements (JOAs) and that the notices relate to Pacific’s failure to make payments under the JOAs.

Karoon stated that “both parties are working together to resolve the issue”.

This is the second time for Karoon to issue such notices to Pacific, the first time being on June 14 this year with Pacific making the payment a day later.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply