Jadestone Working to Restore Montara Venture FPSO Production

(Photo: Jadestone Energy)
(Photo: Jadestone Energy)

Jadestone Energy said it is making progress toward resuming production from the Montara Venture floating production storage and offloading (FPSO) unit offshore Australia.

The Asia Pacific-focused independent oil and gas production company in July temporarily halted production from the FPSO after an alarm was triggered by defect found between one of its ballast water tanks and an oil cargo tank. Jadestone has said the issue poses no safety or structural risk, nor any risk of hydrocarbons leaking into the sea.

In an update on Wednesday, the company said preparations to repair the defect are progressing in line with expectations.

Inspections in another ballast water tank have been completed, with two minor repairs to be carried out over the coming days, after which it is expected that tank will be returned to service.

Oil from the affected tank has been offloaded into a shuttle tanker, and cleaning of the tank is well advanced, with a short inspection program commencing later this week.

Meanwhile, the offload of the oil from tank has permitted reentry into the affected ballast tank, with inspections now underway.

Jadestone said it currently expects the production shutdown will last no more than 60 days, subject to ongoing inspections, identifying the cause of the defect and implementing preventative measures.

The company added that it is engaging with Australia's National Offshore Petroleum Safety and Environmental Management Authority on the results of ongoing inspections, analysis and near-term activities.

The Montara Venture is located in the Timor Sea, in the Ashmore Cartier territory within Commonwealth waters, approximately 690 kilometers northwest of Darwin and within 34 kilometers of Vulcan Shoal.

Jadestone acquired the Montara oil project from PTTEP in October 2018.

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