Carnarvon Petroleum has announced that 171 million barrels of oil discovered at the Dorado well represented “one of the largest oil resources ever found on the North West Shelf”.
The Perth-based explorer said oil fields of this scale were not often found, with the last large field discovery on the North West Shelf occurring about 30 years ago.
“It is common for additional resources to be discovered in the surrounding area after a large discovery. In this regard we expect to provide the market with further details on prospects identified by the play concept now proven at Dorado, that we believe have the potential to also contain oil resources,” Carnarvon managing director, Adrian Cook said.
“The gas and condensate discovered in the Phoenix Project is also is a significant and valuable resource that is in addition to the discovered oil. Dorado discovered 552 billion cubic feet of gas and 16 million barrels of condensate on a 2C basis.
When combined with the nearby Roc field, the aggregate resource is around 884 billion cubic feet of gas and 36 million barrels of associated condensate on a gross 2C basis.” Mr Cook added.
These volumetric results reiterate the significance of the Dorado discovery and we look forward to maturing this resource and finding additional neighbouring resources in our future drilling programs.”
Carnarvon holds a 20% share of Dorado and Quadrant the balance of 80%.