Carnarvon Energy Limited (AU:CVN) has released an update.
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Carnarvon Energy Limited has announced promising developments in the Dorado Phase 1 liquids project, with joint venture partners Santos Limited and OPIC Australia Pty Ltd. The project, located offshore Western Australia, is undergoing optimization to improve economics, significantly lower upfront capital expenditure, and reduce the time to first oil. The company is also exploring cost-saving options through redeployment of existing FPSO vessels and expects to be fully funded for its development costs, with a projected CAPEX below the previously estimated US$2 billion.
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