Jadestone Energy PLC Montara Update (6968L)
07 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMJSE
RNS Number : 6968L
Jadestone Energy PLC
07 September 2023
Montara Update
7 September 2023 - Singapore: Jadestone Energy plc ("Jadestone",
or the "Company") an independent oil and gas production company
focused on the Asia-Pacific region, provides the following update
on operations at the Montara Venture FPSO offshore Australia.
In line with the announcement on 31 August 2023, production at
Montara restarted on 1 September 2023.
Initial production averaged around c.1,000 bbls/d from one well
while the FPSO's oil production and gas compression systems were
recommissioned. With further wells being brought back online in
recent days, production has increased to c.8,000 bbls/d. This
figure includes some flush production, and it is expected that
average Montara production will return to pre-shutdown levels of
c.6,000 bbls/d over the coming days.
Ballast water tank 4P has also been returned to service
following completion of final inspections and repairs. Preparations
for the repair of the previously reported defect between oil cargo
tank 5C and ballast water tank 4S are underway and additional
inspections in tank 4S are ongoing.
The Company will now utilise a smaller and lower cost shuttle
tanker to provide additional storage during a period of time when
the FPSO storage capacity is constrained.
-ends-
For further information, please contact:
Jadestone Energy plc
Paul Blakeley, President and CEO +65 6324 0359 (Singapore)
Bert-Jaap Dijkstra, CFO
Phil Corbett, Investor Relations Manager +44 (0) 7713 687467 (UK)
ir@jadestone-energy.com
Stifel Nicolaus Europe Limited (Nomad, +44 (0) 20 7710 7600 (UK)
Joint Broker)
Callum Stewart
Jason Grossman
Ashton Clanfield
Jefferies International Limited (Joint +44 (0) 20 7029 8000 (UK)
Broker)
Tony White
Will Soutar
Camarco (Public Relations Advisor) +44 (0) 203 757 4980 (UK)
Billy Clegg jse@camarco.co.uk
Andrew Turner
Elfie Kent
About Jadestone Energy
Jadestone Energy plc is an independent oil and gas company
focused on the Asia-Pacific region. It has a balanced and
increasingly diversified portfolio of production and development
assets in Australia, Malaysia, Indonesia, Thailand and Vietnam, all
stable jurisdictions with a positive upstream investment
climate.
Led by an experienced management team with a track record of
delivery, who were core to the successful growth of Talisman
Energy's business in Asia-Pacific, the Company is pursuing a
strategy to grow and diversify the Company's production base both
organically, through developments such at Akatara in Indonesia and
Nam Du/U Minh in Vietnam, as well as through acquisitions that fit
within Jadestone's financial framework and play to the Company's
strengths in managing maturing oil assets. Jadestone delivers value
in its acquisition strategy by enhancing returns through operating
efficiencies, cost reductions and increased production through
further investment.
Jadestone is a responsible operator and well positioned for the
energy transition through its increasing gas production, by
maximising recovery from existing brownfield developments and
through its Net Zero pledge on Scope 1 & 2 GHG emissions from
operated assets by 2040. This strategy is aligned with the IEA Net
Zero by 2050 scenario, which stresses the necessity of continued
investment in existing upstream assets to avoid an energy crisis
and meet demand for oil and gas through the energy transition.
Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on
the AIM market of the London Stock Exchange (AIM: JSE). The Company
is headquartered in Singapore. For further information on the
Company please visit www.jadestone-energy.com .
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