Dorado Discovers 171MM Barrels of Oil



Dorado Discovers 171MM Barrels of Oil
Dorado, located offshore Australia, has discovered 171 million barrels of oil on a 2C basis, Carnarvon Petroleum Limited reveals.

Dorado, located offshore Australia, has discovered 171 million barrels of oil on a 2C basis, Carnarvon Petroleum Limited revealed Monday.

“The 171 million barrels of oil discovered in Dorado is one of the largest oil resources ever found on the North West Shelf,” Carnarvon’s Managing Director and CEO, Adrian Cook, said in a company statement.

“Oil fields of this significant scale are not often found, with the last large field discovery on the North West Shelf being around 30 years ago. It is common for additional resources to be discovered in the surrounding area after a large discovery,” he added.

“In this regard we expect to provide the market with further details on prospects identified by the play concept now proven at Dorado, that we believe have the potential to also contain oil resources,” Cook continued.

Last week, the Dorado discovery was said by Wood Mackenzie Australia Upstream Senior Analyst Daniel Toleman to have created “a big exploration buzz around Perth”.

Carnarvon Petroleum owns a 20 percent stake in the Dorado find. The company, which is based in Perth, also has interests in several other projects offshore Australia.



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