• Natural Gas News

    Jadestone wraps up Malaysian purchase

Summary

The deal nets Jadestone 6,000 barrels of oil equivalent/day of production.

by: Joseph Murphy

Posted in:

Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Corporate, Mergers & Acquisitions, Exploration & Production, News By Country, Malaysia

Jadestone wraps up Malaysian purchase

Southeast Asia-focused Jadestone Energy has completed the $9.2mn takeover of the Malaysian assets of SapuraOMV Upstream, it said in a stock filing on August 2.

The assets flow around 6,000 barrels of oil equivalent/day of mostly oil but also some gas. Jadestone will also increase its proven and probable reserves by 34%, or some 12.5mn boe, through the deal.

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S&P 2023

Through the transaction, first announced in April, Jadestone has obtained a 70% operated interest in the PM329 production sharing contract (PSC) that contains the East Piatu field, a 60% operated interest in PM323 PSC comprising the East Belumut, West Belumut and Chermingat fields, and 50% positions in the Petronas-operated PM318 and AAKBNLP PSCs.