Santos Energy has deferred entry to front-end engineering and design (FEED) for the Phase 1 Dorado liquids projects in the Bedout Basin offshore Western Australia.
As a result, FID on the project, which had been targeted this year, will also be pushed back, said partner Carnarvon Energy.
In addition, Santos has chosen not to purchase an FPSO that had been identified as an option for Phase 1.
The partnership, which includes OPIC Australia, is now reassessing the project timelines. In the meantime, planning continues for drilling further exploration wells in 2026 in line with commitments, Carnarvon added.
“Given the quality of the Dorado project, we at Carnarvon are disappointed by this latest deferral to the project," Carnarvon CEO Philip Huizenga said. “Carnarvon is fully supportive of the joint venture’s desires to realize value for the asset and will support any initiatives for drilling as soon as possible.”
