The National Offshore Petroleum Titles Administrator ('NOPTA') has offered to grant the joint venture a life-of-field Production Licence ('PL') in respect of the four blocks containing the Dorado field ('Licence Area'). These blocks were previously part of Exploration Permit WA-437-P.
The joint venture has accepted the PL offer, and it is anticipated a PL will be granted by NOPTA shortly. Once granted, the PL enables the joint venture to produce petroleum from the Licence Area, as well continue to explore for, and appraise, any additional petroleum within this area.
The PL will also allow the production of petroleum from other areas via the License Area. This means proximate resources, like the recently discovered Pavo oil field, can potentially be tied-back and produced using the Dorado floating, production, storage and offloading (FPSO) vessel.
Carnarvon Managing Director and CEO,
Contact:
Tel: 0413 243 440
Email: josh@spokecorporate.com
Forward-looking statements
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