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Santos makes “larger than anticipated” discovery offshore Australia

07/06/2019
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Santos have confirmed a major oil and gas discovery from the Dorado-2 appraisal well, which they claim suggests that resources in the Bedout Basin are larger than anticipated.

Santos own 80% of the Dorado discovery, with Carnarvon holding the remaining 20%
(Image via Santos)

The Bedout Basin is located approximately 160km North of Port Hedland, Western Australia. The Dorado-1 appraisal well made a major discovery in July last year, and now the Dorado-2 has discovered similar fluid compositions of light oils and gases approximately 2km away. 

The well encountered 85m of net reservoir in the primary Caley formation containing 40m of net oil pay, at a depth of 4,003m. An additional 11m of pay was encountered in the Upper Caley sands. Initial analysis indicates this upper zone is also oil-bearing, but further study is needed to confirm this. 

Together with Dorado-1, the discovery indicates condensate yields ranging from 190 to 245 barrels per million standard cubic feet in the Upper Caley, Crespin and Milne formations and from 70 to 90 barrels per million standard cubic feet in the Baxter formation. 

“The value of the discovery is greatly enhanced by the high-quality reservoirs and fluids and the shallow water setting, which should facilitate a cost-competitive development,” said Santos chief executive officer, Kevin Gallagher.

“Dorado opens a new basin with high prospectivity in permits where Santos has a high equity position and rich exploration inventory with potential to substantially grow the resource base.”

The Dorado field is located in the Bedout Basin, approximately 160km North of Port Hedland, Western Australia
(Image via Santos)

The joint venture is co-owned by Santos (80%) and Carnarvon Petroleum (20%).

“Dorado has been proven to be a world class resource, located in an ideal jurisdiction and operated by a quality partner,” said Carnarvon’s managing director Adrian Cook.

“The joint venture can now confidently continue with its plans for a fast-tracked Caley oil development and a more substantial full field development, which is expected to incorporate the Roc discover, on a staged basis.”

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Santos makes “larger than anticipated” discovery offshore Australia - Time to read 2 min
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