Jadestone Energy Targets End of Month Production Restart for Montara Venture FPSO

Jadestone Energy, an Asia Pacific-focused oil and gas company, has taken a step toward restarting production from its Montara Project offshore Australia.

The company shut down production from the Montara Venture FPSO last year, first, to allow for repairs on a tank that leaked oil back in June through a 30-millimeter crack, and then after discovering a defect in water ballast tank 4S.

On January 18, 2023, Jadestone said that DNV's independent review of Jadestone's remediation plans and operational readiness for the Montara Venture FPSO had been completed and submitted to NOPSEMA, that Australian offshore safety regulator, as required by the General Direction issued to the company in September 2022.  

NOPSEMA's review has now been concluded and the General Direction closed, Jadestone said Wednesday.

"Both hull and tank repair activity and the scheduled 4-yearly planned topsides maintenance activities on the Montara Venture FPSO are progressing well, with operational readiness and production restart still targeted to occur later in February 2023," the company said.

Jadestone Energy's President and CEO, Paul Blakeley, said:"The closing of the General Direction is a very important step towards restarting production at Montara.  

As previously reported, we have elected to carry out most of this year's planned annual shutdown work in parallel with the tank work to maximize efficiency during this period. 

The combined work scope is making good progress, and when completed, we will declare operational readiness and deliver a safe restart of production, which is still targeted before the end of this month.

"I would like to use this opportunity to recognize the onshore and offshore teams working tirelessly on Montara, across the Christmas and summer holidays to get Montara operationally ready again. Jadestone is looking to ensure Montara delivers safe and reliable operations going forward as well as capture the significant value we believe this asset holds."Credit: Jadestone Energympo