Carnarvon Petroleum Limited (ASX:CVN) has its sights set on unlocking the largest oilfield in WAs North West Shelf after the discovery of the Dorado field which it is developing with partner Santos Ltd (ASX:STO).
In May, three contracts were awarded to pre-Front End Engineering Design (pre-FEED) contractors, enabling the parties to work independently to advance their Floating Production Storage and Offtake (FPSO) vessel designs and mature their vessel construction plans as well as supply terms.
Conceptual design for the production wells is now complete, three parties have been short listed for the fixed well-head platform (WHP) that will support the production and ancillary wells and connect to and supply the FPSO.
The engineering design (FEED) phase is expected to commence in quarter three, 2020.
Stage one development
Carnarvon is targeting oil and condensate development for stage one, with stage two to consist of gas and LPGs.
The expectation is to produce an initial 75,000 to 100,000 barrels of oil per day from only 8-10 wells (including re-injection wells) from four quality reservoirs; Caley, Baxter, Crespin and Milne.
It is projected to be a low-cost field, with a final investment decision on the project targeted for 2021 depending on market conditions.
The company recently delivered a high-quality dataset over the Dorado and Roc fields, as well as the surrounding area (Bedout sub-basin) based on the fast-track data set after acquiring the Keraudren 3D seismic data in 2019.
The results improved the visibility of the key geoRead More – Source