$CVN.ASX ready to breakout
Oil and gas exploration and production.
Number of shares 1,564,379,917
Oil and gas exploration and production.
Number of shares 1,564,379,917
Trade active:
Major oil discovery moves closer to production
One of Australia’s largest oil discoveries is closing in on being developed with Carnarvon Petroleum (ASX:CVN) saying that front end engineering and design (FEED) work for the Santos (ASX:STO)-operated Dorado field in the waters off northwestern Australia are expected to begin in the current half of 2020.
It says the development concept is now well defined with the pre-FEED competition for the supply of a floating production, storage and offtake vessel now well advanced.
BW Offshore, Modec and Altera have all submitted technically robust proposals for vessels capable of delivering between 75,000 and 100,000 barrels of oil per day.
Work is also continuing on the tendering for a wellhead platform that is expected to host eight to 10 production wells with the capacity to accommodate production from future tie-backs.
The FEED work will fully define the scope and plan for the project so that a final investment decision can be made by the joint venture in 2021.
One of Australia’s largest oil discoveries is closing in on being developed with Carnarvon Petroleum (ASX:CVN) saying that front end engineering and design (FEED) work for the Santos (ASX:STO)-operated Dorado field in the waters off northwestern Australia are expected to begin in the current half of 2020.
It says the development concept is now well defined with the pre-FEED competition for the supply of a floating production, storage and offtake vessel now well advanced.
BW Offshore, Modec and Altera have all submitted technically robust proposals for vessels capable of delivering between 75,000 and 100,000 barrels of oil per day.
Work is also continuing on the tendering for a wellhead platform that is expected to host eight to 10 production wells with the capacity to accommodate production from future tie-backs.
The FEED work will fully define the scope and plan for the project so that a final investment decision can be made by the joint venture in 2021.