Australia's 344-Million-Barrel Oilfield Could Finally Get the Green Light

After years of delays, Australia's largest undeveloped oil project could progress to a final investment decision in 2027 as the energy crisis amid the Iran war has heightened the need of homegrown resources.

Carnarvon Energy Ltd, a junior explorer that holds 10% in the Dorado oil discovery offshore Western Australia, believes that a final investment decision to develop the project could be made in late 2027, Carnarvon's chief executive Philip Huizenga told Bloomberg in an interview on Friday.