Pavo-1 Discovery is 'Stellar' Exploration Success, Carnarvon Says. Shares Resource Estimate

OE Staff
Monday, May 2, 2022

Australian oil and gas company Carnarvon Energy said the recent Pavo-1 oil discovery it made with operator Santos offshore W. Australia was a "stellar exploration success."

The company has completed its Pavo resource assessment and said that the oil discovery significantly increases Carnarvon’s oil resources for potential development through the Dorado facilities, located around 46 kilometers from Pavo. The Pavo discovery was made in March using the Noble Tom Prosser jack-up drilling rig.

The Dorado is one of the largest offshore oil discoveries on Australia's North Western Shelf, and Santos is working to develop it using an FPSO and a wellhead platform.

"The greater Pavo closure comprises a northern structure, from which the Pavo-1 well-recovered hydrocarbons (Pavo North contingent resource), and a southern structure (Pavo South prospective resource). The two structures are separated by a narrow syncline, with the depth of the syncline being shallower than an interpreted residual oil-water contact noted in Pavo-1. This supports the position that Pavo South is likely filled with the same oil encountered in Pavo North," Carnarvon said.



Credit: Carnarvon EnergyCarnarvon Managing Director and CEO, Adrian Cook, said: “As we reported a little over a month ago, the Pavo-1 well result is another stellar exploration success in Carnarvon’s history in the Bedout Sub-basin. I’m now pleased to be in a position to report on the contingent and prospective resources within the Pavo structure.

When we consider Carnarvon’s share of the Dorado field oil resource is 32 million barrels (2C), the addition of 13 million barrels (2C) in Pavo North and 16 million barrels (prospective Pmean) in Pavo South holds great significance to the company and its shareholders. 

Importantly, Pavo has the potential to maintain high flow rates through the Dorado production facilities and thereby preserve the field’s low operating costs per barrel for an extended period of time. The success of the Pavo-1 well has also led the joint venture to consider its upcoming appraisal and exploration campaigns in the Bedout Sub-basin. Carnarvon is working closely with the operator, Santos, to define these targets and will provide more information to shareholders in due course.” 

Prospective resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may relate to undiscovered accumulations. These prospective resource estimates have an associated risk of discovery and risk of
development. Further exploration and appraisal will be required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

Credit: Carnarvon

Categories: Energy Drilling Industry News Activity Australia/NZ Shallow Water Discoveries Drilling Rigs

Related Stories

Petrovietnam, Partners Sign PSC for Block Off Vietnam

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Fugro Expands Geotechnical Testing Capabilities in Indonesia

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Current News

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com