Jadestone Energy plc said Thursday that its Montara Venture FPSO offshore Australia resumed production operations early on Tuesday March 21, 2023.
The company shut down production from the Montara Venture FPSO in 2022, first to allow for repairs on a tank that leaked oil in June 2022 through a 30-millimeter crack and then after discovering a defect in water ballast tank 4S.
Jadestone Energy had planned to resume production at the end of February; however, this was then delayed as bad weather was hampering topside maintenance work on the Montara Venture FPSO.
In a statement on Thursday, announcing production restart, Jadestone said: "In a carefully planned restart program, production recommenced from the H6 well on the Montara field, with further wells to follow, including the first Skua subsea well, which will be brought on line in the coming days. Production rates will increase with the systematic opening of additional wells in line with the restart plan.
The said it would announce its production guidance for 2023 once Montara output is stabilized.
Paul Blakeley, President and CEO, said:"I would like to thank everyone in Jadestone who has contributed to the safe and successful restart of Montara operations as we 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. Near-term organic growth from the Akatara project remains on track and with our first infill drilling programme in Malaysia, reinforcing the point that 2023 will be a big year for Jadestone.”