As part of the program, the Block S-M-1102 intersected a 213m gross oil column in Paleocene and Maastrichtian aged reservoirs.
The Paleocene reservoir section produced a facility constrained stabilized flow rate of 4,650 barrels of oil per day (bopd) with a flowing well head pressure of 504 psig on a 1" choke.
The recovered oil samples measured 38.6 degree API oil gravity with a gas-oil-ratio of 701scf/stb, and no measurable CO2, H2S, and sand production.
Karoon managing director Robert Hosking said: "The Echidna discovery and production test represent a significant milestone, moving Karoon a step closer to realizing the company’s ambitions of developing an integrated production hub in the Santos Basin.
"Ultimately, well productivity is a key driver of commerciality for any oil project, particularly in the current oil price environment."
The company plans to evalaute the Maastrichtian oil bearing reservoir section with coring and production testing in more optimally located appraisal wells on the Echidna field.
Karoon operates the block with 65% interest, while Pacific Rubiales Energy owns the remaining 35%.
The joint venture plans not to take up the second well option, and will continue with geoscience and engineering works, to characterize the Kangaroo and Echidna oil fields.
