Jadestone reports stable production in Ogan Komering PSC
Wednesday, November 8 2017 - 02:04 AM WIB
TSX-listed Jadestone Energy Inc said on Tuesday that production at the Ogan Komering PSC in Indonesia? South Sumatra Province remained steady at approximately 1,400 boepd, net to the company, for the period March?October 2017.
?The Ogan Komering Joint Operating Body company is minimizing natural production declines through ongoing well interventions and reactivations, as well as continuing refinements to optimize the Mandala gas field processes,? Jadestone said in a statement.
The company said it is continuing discussions regarding longer-term opportunities for Ogan Komering, including the potential for new gas field developments beyond the current Production Sharing Contract expiry.
Jadestone acquired in March of this year Talisman (Ogan Komering) Ltd, which holds a fifty percent (50%) interest in the Ogan Komering PSC, with the balance currently held by PT Pertamina Hulu Energi Ogan Komering, an affiliate of Indonesia?s state-owned oil and gas firm PT Pertamina.
According to company website, Jadestone Energy jointly operates the field with its partner Pertamina through a Joint Operating Body, seconding 11 professionals to the operation. The company anticipates this team of eleven will continue to assist Pertamina with early development of recent gas discoveries working cooperatively into 2018 and beyond under a JOA arrangement in a new PSC.
Editing by Reiner Simanjuntak