From the CEO’s desk

It has been another active month for Carnarvon as we continue to progress projects on multiple fronts. Work on the Dorado oil field development continues to progress, and we remain on track to make a final investment decision on the project with our joint venture partner Santos later this year. Our renewable fuels business, FutureEnergy Australia (FEA), also continues to work towards FID on our first proposed renewable diesel facility in the Shire of Narrogin, in Western Australia’s Wheatbelt region.

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Oil demand to return to pre-pandemic levels in 2023

With the global economy recovering from the COVID-19 pandemic, the International Energy Agency (IEA) has forecast world oil demand will surpass pre-pandemic levels by next year, and supply could struggle to keep pace with demand. In its latest oil market report, the IEA forecasts global oil demand to reach 101.6 million barrels per day (bpd) in 2023, with growth of 1.8 million bpd in 2022 and an additional 2.2 million bpd of demand anticipated in 2023. A forecast rise in

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From the CEO’s desk

Much of the past month’s activity has been focused on Carnarvon’s Dorado development funding programs and renewable fuels project in Western Australia, with both continuing to progress towards a final investment decision later this year. Our Dorado funding focus has centred on advancing the work with project finance providers, which are expected to be the main supplier of capital for the project. We have also begun testing the market for interest in a portion of our equity in the Bedout

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Narrogin community event

FutureEnergy Australia (FEA), the 50:50 renewable fuels joint venture between Carnarvon Energy and Frontier Impact Group, held a community information session in the Shire of Narrogin earlier this month. More than 70 people from the local community as well as key stakeholders turned out to learn more about our proposal to build Australia’s first commercial-scale renewable diesel facility in Western Australia’s Wheatbelt region. Presentations by FEA Chair Adrian Cook, Executive Director Jennifer Lauber Patterson, Narrogin Shire President Leigh Ballard, Department

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Growing interest in renewable diesel

Carnarvon Energy Chief Financial Officer Thomson Naude attended last month’s APPEA Conference in Brisbane, where there was growing interest in the company’s renewable fuels business, Future Energy Australia (FEA). The energy transition was a hot topic of conversation this year at the conference and people were keen to know more about what Carnarvon is doing in this space through FEA, which is looking to build Australia’s first commercial-scale renewable diesel production facility. “People wanted to know a lot more about

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Oil and gas industry gathers in Brisbane for APPEA

The energy transition continues to gather pace, even taking centre stage at this year’s APPEA Conference, the largest oil and gas industry gathering in the southern hemisphere. The theme of the conference, Positive Energy for a Changing World, highlighted the challenges facing the oil and gas industry. Key topics of discussion included economic recovery, energy security, the impact of the Russia-Ukraine conflict, achieving net-zero emissions targets, and more. The tone was set from the opening panel discussion, which centred around

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From the CEO’s desk

It has been another month of important progress for Carnarvon and our Dorado development in the Bedout sub-basin, offshore Western Australia.   Just last week, we released our resource estimate for the successful Pavo-1 discovery, which is estimated to hold 43 million barrels in gross contingent oil resources and could be developed via a tie-back to the Dorado production facilities.   Further highlighting the exciting potential of the region, we have also released an update on the Pavo South structure, which is

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Introducing Philip Huizenga – Carnarvon’s Chief Operating Officer

Carnarvon’s Chief Operating Officer (COO) Philip Huizenga joined Carnarvon in 2007 and has overseen the company’s transformation from a relatively small onshore oil producer to a successful offshore exploration and development company.   Philip joined Carnarvon as a petroleum engineer before quickly taking the reins as the company’s COO, which sees him execute the strategies the board and management team put together.  “I have oversight of all operations. The shortest way I like to explain it is, if you can sort

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Renewable diesel offers near-term emission reduction solution

The UN’s Intergovernmental Panel on Climate Change (IPCC) has released its latest report, warning rapid and deep cuts to greenhouse gas emissions are needed by 2025.  The report highlights renewable diesel as a having the potential to offer important near-term emissions reductions as it can be used as a drop-in replacement for fossil diesel, requiring no modifications to existing equipment.   The IPCC report notes that renewable diesel can help reduce emissions across existing diesel vehicle fleets,

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Bedout sub-basin under the microscope

Fresh off the Pavo discovery, PESA News also looked at the geological features of the Bedout sub-basin and what it means for plays past, present and future – covering everything from improvements in the quality of seismic data to geological probability of success and estimated recoverable volumes. Find out more here.

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