Santos delays Dorado Phase 1 project offshore Australia
Santos Ltd. will defer the Dorado Phase 1 liquids development project offshore Western Australia to an unspecified date.
Santos has decided not to purchase the floating production storage and offloading (FPSO) vessel that had been identified as an option for Dorado Phase 1. The company has also decided not to enter front end engineering and design (FEED) at this stage.
With the deferral of FEED entry, the previous target for a final investment decision (FID) in 2025 will also be deferred. The Dorado joint venture is currently reviewing the timeline for the project.
Mid-2024, Santos and joint venture partners noted plans to "improve the economics" of the (OGJ Online, July 18, 2024).
Santos is operator of the project (80%) with JV partners Carnarvon Energy Ltd. (10%) and OPIC Australia Pty Ltd., a wholly owned subsidiary of CPC Corp. (10%).
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).