Mate, the decision not to proceed with FID by STO was not due to government approvals or regulation. That's not my opinion, but its what coming from KG at STO.
The bottom line is that STO have too many projects and not enough money to develop them all at the same time. Everything was set up for KG to just rubber stamp it to go. KG decided that STO had other projects it should prioritise and put their money to those projects.
Simple as that. There was no regulatory hurdle that factored into their decision. Read STO's reports and announcements, listen to the man himself at presentations and conference calls. Regulation is never mentioned as an issue to not to proceed with the Dorado development. I'm just pissed because it was Santos that chose to buy these assets through their purchase of Quadrant Energy. Looking back, the big risk arose was when they merged with Oil Search. Neither company was awash with cash, but both companies had numerous projects to develop. So Dorado was now competing with even more projects to get funded.
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