Carnarvon provides resource assessment for Pavo oil discovery

Carnarvon Energy Ltd., a partner in the Pavo-1 oil discovery offshore Western Australian permit WA-438-P in the Bedout subbasin, has estimated contingent resources in the discovery of 43 million bbl (2C).

Additional prospective resources are estimated at 55 million bbl gross (Pmean).

The Pavo-1 discovery was made about 5 weeks ago in the northern part of the greater Pavo structure and Carnarvon’s 2C estimate is based on that result. The prospective additional resource is in the southern structure separated from the north by a narrow syncline.

The depth of the syncline is shallower than an interpreted residual oil-water contact at Pavo-1, supporting the position that Pavo South is likely filled with the same oil as Pavo-1.

Pavo-1 is being assessed for production through the planned infrastructure at Dorado oil field about 46 km to the west in production permit WA-64-L.

Shrugging off the failure of another satellite prospect, Apus-1 last week, Carnarvon Managing Director and Chief Executive Officer Adrian Cook said Pavo has the potential to maintain high flow rates through Dorado production facilities and preserve the field’s low operating costs per barrel for an extended period.

Infrastructure at Dorado will comprise a wellhead platform connected to a floating production, storage, and offtake vessel about 2 km away.

During Phase 1 initial oil production, gas will be reinjected to enhance oil recovery. Infrastructure will be designed to handle up to 100,000 b/d.

Dorado oil production rates are expected to decline after a plateau period of 1-2 years creating spare capacity in the crude handling.

Pavo oil could then be delivered to Dorado at a rate that enables efficient utilization of Dorado infrastructure and extends the time that the Dorado project can maintain high production capacity.

Both Dorado and Pavo are operated by Santos Ltd. with 80% and 70% interests respectively. Carnarvon has 20% in Dorado and 30% in Pavo.