Jadestone Energy plc, an independent oil and gas production company headquartered in Singapore, has announced the Montara Venture FPSO offshore Australia restarted production operations last week.
Following what the company called a ‘carefully planned’ restart programme, production recommenced from the H6 well within the Montara field, with further wells set to follow, including the first Skua subsea well.
With the systematic opening of additional wells in line with the restart plan, production rates are set to increase, and the company will announce its production guidance for 2023 once output has stabilised.
Paul Blakeley, President and CEO at Jadestone Energy, said, “I would like to thank everyone in Jadestone who has contributed to the safe and successful restart of Montara operations as well look forward to putting this challenging period behind us and returning to business as usual.
“It is a relief to see operations at Montara being restored and we look forward to increasing production and cash flow. We also plan to return to growth, having completed three acquisitions within the last six months, with several new acquisition opportunities in the pipeline.”
The restart programme was instigated after the initial shutdown of production in July 2022 after a small leak from the crude oil tank aboard the FPSO was detected and required permanent repair.