Santos expands Dorado foothold with new block. BP joins as partner

Santos has been awarded new acreage “on-trend” and near its world-class Dorado oil discovery offshore Western Australia. The permit has been awarded to Santos in a 50-50 joint venture with BP.

Santos will be the operator of the new 6,964 square kilometers permit WA-541-P in the Northern Carnarvon Basin which lies to the west of the recent Dorado, Roc, and Phoenix South hydrocarbon discoveries in the Bedout Sub-basin.

The southern portion of WA-541-P is directly adjacent to the proven Dorado structural stratigraphic play trend, which is interpreted to extend into the new block, Santos said.

Santos Managing Director and Chief Executive Officer, Kevin Gallagher, said: “Santos is pleased to have been awarded this acreage on-trend with the Dorado discovery, a now proven world-class, liquids-rich petroleum system with high-quality reservoirs.”

“We are excited at the opportunity to increase our exposure to this highly prospective region, leveraging our offshore operating expertise and building on the success of our 2019 drilling campaign to pursue further growth through our activities in Western Australia.”

Dubbed one of the largest oil discoveries ever offshore W. Australia, the Dorado was found in 2018 by Quadrant Energy, a company later bought by Santos. The discovery sits in water depths of 70 to 100 meters.

Santos is now in the process of concluding its Dorado appraisal drilling campaign, after which it will work towards a Final Investment Decision. Santos, the operator with an 80% stake in Dorado, said in August that successful Dorado appraisal during the first half of the year resulted in a 68% increase in gross 2C resources to 310 million barrels of oil equivalent.

The field is located approximately 160km north-northeast of Port Hedland in the Bedout Sub-basin in around 95 meters water depth.

Offshore Energy Today Staff

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