We were extremely pleased to announce a significant update on Dorado this week, along with our joint venture (JV) partner Santos.

The decision to launch the Front-End Engineering and Design (FEED) has us on track to build the first development in the Bedout Sub-basin, offshore Western Australia.

As has been well documented, Dorado is a world-class oil resource, located in a shallow-water setting, with an initial oil production potential of 75,000 – 100,000 bbl/d gross.

Notable in the Dorado reservoirs is the very low levels of CO₂ at approximately 1.5 per cent.

Commencing FEED is a significant milestone for Carnarvon and one we expect on the pathway to deliver strong returns for our shareholders.