UK-listed Jadestone Energy (LON:JSE) has reported that the start-up of the company’s Montara Venture floating production storage and offloading (FPSO) vessel remains uncertain following oil leaks offshore Australia.
Structural integrity of Jadestone’s Montara FPSO questioned by Australia’s regulator after oil spills
Jadestone Energy (LON:JSE) has been slapped with two directives from Australia’s offshore energy regulator as worries rise about the structural integrity of the company’s Montara floating production storage and offloading (FPSO) vessel following two oil leaks.
UK-listed Jadestone Energy has reported an oil spill offshore Western Australia at the Montara oilfield when oil was being transferred between two crude tanks onboard the Montara Venture FPSO. Oil was observed on the surface of the sea and the field has now been shut down after a hole was identified in the bottom of the tank of the floating production storage and offloading (FPSO) unit.
Jadestone Energy is pressing ahead with its Akatara onshore gas field development in Indonesia after receiving government approval.
Santos is seeking buyers for a 20-30% stake in its large Dorado oil project and Bedout exploration portfolio offshore western Australia estimated to be worth up to $200 million. Significantly, there is expected to be global interest in the sales process, which could be particularly appealing for Asian national oil companies (NOCs).
Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.
Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
More oil and gas firms are “pivoting” their business models towards shareholder returns and away from high risk and reward exploration, an analyst has said.
A pair of oil and gas fields controlled by Japanese companies offshore Vietnam could become a potential flash point in the disputed waters of the South China Sea as Beijing continually seeks to aggressively assert its claims.
The number of public listed North Sea operators that could be a suitable fit for a reverse takeover have “diminished significantly”, according to an industry experty.
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
Singapore-based Jadestone Energy has struck a deal to buy 69% of the Maari project offshore New Zealand from Austrian firm OMV for $50 million.
Independent oil firm Jadestone Energy has completed a £147.1million acquisition of the Montara project off the coast of Australia.