Jadestone Energy plc (“Jadestone”, or the “Company”), an independent upstream company focused on the Asia-Pacific region, is pleased to provide the following update on the Akatara gas development project onshore Indonesia.
The Akatara Gas Processing Facility (the “Facility”) is nearing the key milestone of mechanical completion, where all components and systems of the Facility will have been constructed, installed and tested.
The project focus is now on the final commissioning of the plant ahead of introducing wellhead gas. The project remains on schedule for gas into the Facility in approximately two weeks time and for commercial gas, LPG and condensate sales following shortly thereafter.
The workover campaign on the five existing Akatara wells which will provide gas to the Facility has been successfully completed, flowing at an aggregate rate of 54 mmscf/d, significantly in excess of the c.25 mmscf/d of raw feed gas required under the gas sales agreement. In addition, the 17km pipeline which will deliver gas into the regional gas trunkline has been successfully tested and is now ready to receive Akatara gas.
Approximately 7.7 million manhours have been worked on the Akatara project without a lost-time incident.
Paul Blakeley, President and CEO commented:
“There has been a huge amount of effort and commitment across the business to ensure that the Akatara project remains on schedule, and working closely with our main contractor, we are on the threshold of the key milestone of mechanical completion of the Facility. Whilst seeking to maintain the very impressive safety performance to date, the team are now focused on the remaining commissioning activities ahead of introducing first gas into the Facility this month and delivering sales gas volumes.”
