The data was acquired across a portion of permits WA-437-P and WA-438-P which the company owns 20% and 30% of, respectively.  

 

Operator Santos undertook the work. It has another seismic survey open for comment with the offshore regulator at the moment, which if approved should commence after April this year. 

 

The Keraudren seismic was undertaken last year and was designed to provide superior quality data over Dorado and establish further exploration drilling targets. 

 

It is "a marked improvement" over the previous Capreolus 3D data, which Carnarvon used to define the Dorado prospect that led to huge success of the Dorado-1 oil find in late 2018.  

 

It is classed as the third-largest find on the North West Shelf in its history. 

 

Carnarvon (20%) and operator Santos (80%) are working towards front-end engineering and design entry prior to a final investment decision.

 

The development plan will tackle oil first, reinjecting associated gas back into the reservoir to stimulate production via enhanced oil recovery, something first noted by junior partner Carnarvon's managing director Adrian Cook at a Perth conference in September.

 

Production is expected to begin at 75,000-100,000 barrels of oil per day and capital expenditure for the joint venture of between $1.9 billion to $2.2 billion. 

Whether they decide to buy or lease an FPSO will impact this. 

 

"The Kerauden 3D data was acquired using a new seismic methodology designed to enhance the quality of the data over the four targeted reservoir intervals discovered and appraised in the three Dorado wells drilled in 2018 and 2019," Carnarvon said today. 

 

The data will support FEED work, especially that related to the subsurface and the positioning and configuration of production wells. 

 

The data area was extended to include a number of previously identified nearfield exploration prospects and leads, with the data-driven Carnarvon to assess them throughout this year with a plan to drill them next year, subject to joint venture approval and securing a rig.