APUS SPUD imminent and a biilion net profit potential, page-24

Santos WA Northwest Pty Ltd (Santos) proposes to develop petroleum resources in the Bedout Subbasin, located in Commonwealth waters approximately 140 km offshore from Port Hedland, Western Australia (Figure 0-1). The Dorado Development will develop the oil resources of the Dorado reservoir and potential future tiebacks and will require gas reinjection to enhance the oil recover. There is potential for a second phase of development to recover and export the gas. Phase 1 of the Dorado Development (Dorado Phase 1) will produce oil from the Dorado field and potentially from future tiebacks. In this phase, the recovered gas will be reinjected to the Dorado reservoir to enhance liquids recovery through a gravity-stable gas flood. Dorado Phase 1 will be designed for liquid handling rates of 100 thousand standard barrels per day (KSTB/d) and gas reinjection capacity of 235 million standard cubic feet per day (MMscf/d).

With the inclusion of future tiebacks, Dorado Phase 1 will export a volume of up to 350 million barrels (MMbbl) of liquids over 20 years. Future gas production is subject to future exploration and investment decisions and would be executed as Phase 2 of the Dorado Development. The exploration and appraisal activities in the Bedout Basin are undertaken via separate environment plans and approvals. Should Phase 2 of the Dorado Development progress it would require separate assessment under environment regulatory approval processes if considered commercially and technically viable. The recovered gas will be exported to either domestic and/or LNG facilities.

This offshore project proposal (OPP) has been submitted to the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for assessment under Part 1A of the Offshore Petroleum and Greenhouse Gas Storage (Environment) Regulations 2009 (OPGGS (E) Regulations). This OPP outlines Santos’ commitment to undertaking Dorado Phase 1in a manner that ensures environmental impacts and risks are acceptable.

The oil resources that will be developed lie within petroleum titles WA-437-P and WA-438-P.

Key takeaway for me:

- expect to extract 350 million barrels of liquids within Dorado, Roc, Apus and Pavo permit areas (WA-437P and WA-438P) for the next 20 years.

So (atm) we won't be focussing on Phoenix areas.

Does it mean we are dropping them (WA-435-P and WA-436-P) at FID?