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Jadestone completes major capital project on Montara

27 Sep 2019 3:01 PM | Sonia Harvey (Administrator)

SINGAPORE-based junior Jadestone Energy has completed a major capital project, installing new subsea umbilical cables across the Montara oilfield, offshore Western Australia in the Timor Sea.

The AIM-listed midcap producer noted that the replacement umbilical installation project was identified by the previous operator of the Montara field as a "high priority."

The umbilicals are an integral part of the deepwater control system on the field, providing electrical power and control signals to the subsea well heads.

The project was conducted using the DOF Subsea Skandi Hercules vessel, which was mobilised from Singapore in August.

The installation project was previously identified by the former operator PTTEP as a "high priority," however work was deferred until Jadestone completed its acquisition of the field and formally became operator.

Jadestone was formally awarded operatorship for the Montara field in July, but had effectively operated the field since acquiring it from PTTEP last year. 

Jadestone CEO Paul Blakeley said the major project was completed on budget and without incident.

"Early on, we recognised the need to replace the control link to the Montara subsea wells, and this was done as soon as possible, following acceptance of Jadestone's safety case for Montara," Blakeley said.

"I think of this as a one-off maintenance project, and having it completed now will provide greater confidence in our ability to deliver guidance volumes from Montara."

Since acquiring the field last year, the Montara field has delivered record cash for Jadestone, turning the company from loss to profit in a 12 month period.

Source: Energy News Bulletin

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