Singapore-based Jadestone Energy PLC has temporarily shut-in production from its 100%-owned Montara oil field in the Timor Sea to concentrate on repairs to tanks on the project’s floating production, storage and offloading (FPSO) vessel.
Oil was found to be leaking from a tank through a 30-mm crack in June 2022, leading to a short shutdown of the Montara Venture FPSO while a temporary repair was made. Oil production resumed in July, but Jadestone said at the time it was planning a permanent solution.
On Aug. 12, 2022, Jadestone said that while preparing for the repair a defect was found in a water ballast tank and this will be included in the overall repair program. This will necessitate a further shut-in of the FPSO to enable checking and, where necessary, remediating other tanks in the vessel.
Jadestone said it expects Montara will be offline for the remainder of August and potentially through September 2022. Prioritizing the inspection, repair, and maintenance work will incur incremental costs of US$2-4 million.
The company now expects overall 2022 production from all operations to average 13,000-14,000 boe/d compared with an earlier expectation of 15,500 boe/d.