Jadestone Energy, Singapore, has received official approval from Australia’s National Offshore Petroleum Titles Administrator (NOPTA) for title transfer regarding its acquisition of bp plc’s interest in Woodside Energy-operated Cossack, Wanaea, Lambert, and Hermes oil fields on the North West Shelf offshore Western Australia.
Jadestone finalized acquisition of the 16.67% working interest in November 2022 (OGJ Online, July 28, 2022).
The fields, known collectively as CWLH fields, are part of Woodside’s North West Shelf oil project and the acquisition includes bp’s former stake in the fields, the subsea infrastructure, the Okha floating production, storage, and offtake vessel (FPSO), and a share in all abandonment liabilities estimated at $82 million.
With it, Jadestone acquires 10.4 million bbl of remaining oil reserves and resources as of Jan. 1, 2020.
Production from CWLH fields averaged 14,200 b/d for the 3 months ended 2022 (2,360 b/d net to Jadestone).