Leading Australian operator Santos will be directing more of its capital expenditure towards liquefied natural gas investments in Australia and Papua New Guinea, as well as the Pikka oil project in Alaska.

However, the Dorado oil project offshore Western Australia — which was progressing towards the final investment decision this year — has officially been pushed out to the end of next year or early 2024 to be ready for sanction.

Santos reiterated it now views Dorado as an integrated oil “and” gas project rather than a phase one oil project and a subsequent gas scheme, which had been the plan for the past few years.