Carnarvon Energy’s studies into the Pavo oil development found that fluids from the site are compatible with those from the nearby Dorado oil development.
As a result of the compatibility between the products from Dorado and Pavo, Carnarvon undertook preliminary studies to change the location of the proposed floating production storage and offtake (FPSO) for the Dorado development.
There is potential for Pavo fluids to be introduced directly to the FPSO, rather than commingling at the wellhead platform.
Managing Director Adrian Cook said that achieving final investment decision, including funding the investment, are the primary focus of the company’s resources.
“Dorado is a compelling asset that will get sanctioned, funded and developed at the appropriate time,” said Cook.
Working with joint venture partner and operator Santos, Carnarvon spent last quarter working towards acceptance of the Offshore Project proposal for Dorado.
Once Dorado is started up, the company intends to bring the Pavo oil development online to maintain sustained fluid throughput and resulting in lower operating costs.
“[Carnarvon] continues to prudently manage its balance sheet as it moves towards the sanction of the Dorado development, and its other projects,” said Cook.
Subscribe to Energy Today for the latest project and industry news.