By Oliver Griffin

Jadestone Energy Inc. (JSE.V) said Friday it has started production at the Montara oil field in the Timor Sea, following the completion of a maintenance-and-inspection shutdown.

The oil-and-gas company said production will be ramped up while final checks are carried out.

Jadestone Energy said it doesn't expect any major planned shutdowns until at least the second half of 2020.

PTTEP Australasia (Ashmore Cartier) Pty Ltd., a subsidiary of PTT Exploration & Production PCL (PTTEP.TH), which sold the Montara assets to Jadestone, has agreed to pay $22 million in relation to the shutdown.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

January 11, 2019 03:38 ET (08:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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