Santos has again deferred a final investment decision at the Dorado joint venture project off the Western Australian coast, with no timeline given for a revised investment decision.
Carnarvon Energy hopes a final investment decision will be made on the Dorado oil project by the end of 2024, as the Santos-led joint venture explores cost reduction at the field.
Carnarvon Energy's new chief executive Philip Huizenga will take a salary 20 per cent lower than his predecessor in the role, as the company rebuilds from a board overhaul last year.
The board of Carnarvon Energy has been overhauled by major shareholders, less than a week after the company put out a succession plan to guide the appointment of new directors.
Last month's huge oil discovery off the Pilbara coast, which could be the largest local find in 30 years, has already provided West Perth junior Carnarvon Petroleum with a significant boost to its share price.
