Carnarvon confirms CPC entry to Dorado project offshore Australia

July 27, 2023

Carnarvon Energy's divestment of 10% interest in its Bedout Basin assets offshore Western Australia to OPIC Australia will complete by the end of August.

Related To: Carnarvon Energy

The Dorado oil field is located on Western Australia’s North West Shelf.

Offshore staff

WEST PERTH, Australia — Carnarvon Energy says its agreement to divest a 10% interest in its Bedout Basin assets offshore Western Australia, announced earlier this year, will complete by the end of August.

This follows approval from Australia’s Foreign Investment Review Board. The buyer is OPIC Australia, a subsidiary of Taiwan’s state oil and gas company CPC Corp., Taiwan.

Carnarvon will receive a total cash consideration of $146 million, including a carry toward its share of the development costs for the Dorado Field once the partners and operator Santos take final investment decision.

07.27.2023