Jadestone closing in on transfer of Montara offshore Australia

June 27, 2019

Offshore staff

SINGAPOREJadestone Energy is progressing discussions to take on operatorship of the Montara field offshore northwest Australia from PTTEP Australasia.

The sole remaining requirement is approval by the Australian regulator of the new safety case, which involves providing further written clarification. But formal transfer of operatorship should go through during 3Q.

Jadestone personnel have been seconded into key operations management positions, and certain changes have already gone through which the company say will cut annual opex by around $20 million.

The riserless light well intervention campaign continues, with the aims of restoring gas lift to the Skua-11 and Swift-2 wells, perforating additional sands in the Swallow-1 well, and unlocking new heel volumes in the Skua-11 well.

Oil from the subsea wells is transported via subsea flowlines to an unmanned wellhead platform and from there to the Montara Venture FPSO, which serves as a hub for the Montara cluster, and potentially other stranded discoveries in the region.