Jadestone Energy adds third well to offshore Malaysia campaign

The decision follows strong results from an initial infill producer on the East Belumut oil field.
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July 1, 2026
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Why this news matters:

  • The successful startup demonstrates the production upside available from infill drilling in mature offshore assets, extending field life and improving recovery from existing infrastructure. 

  • Additional Malaysian production supports Jadestone's strategy of growing output through brownfield development rather than higher-risk frontier exploration projects. 

  • Strong initial flow rates could improve near-term cash flow and provide momentum for the remainder of the company's offshore Malaysia drilling campaign. 

 

Courtesy Jadestone Energy's "Full-Year 2025 Results Presentation"
PM323 offshore drilling campaign

The PM323 drilling campaign commenced in mid-April, with initial well results reported in late June. 

Jadestone Energy has brought onstream the first well of its present infill drilling campaign on the PM323 production sharing contract offshore Peninsular Malaysia, the company reported June 24.

Based on the strong results from the EBA-18ST3 well (~3,000 bbl/d), and subsurface data compiled during drilling of the second well, the company has opted a third well to its program.

This has spud recently, targeting a southwest extension of the East Belumut Field.

Estimated capex for the entire campaign remains unchanged at $50 million to $80 million.

EBA-18ST3 came in ~20% below budget, despite its 1,200-m horizontal reservoir section and total measured depth of 4,866 m, which is the longest of any well to date on East Belumut.

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About the Author

Jeremy Beckman
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Jeremy Beckman

Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.

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