Jadestone Energy’s revised Environment Plan (“EP”) to operate the Stag oil field, offshore Dampier, Western Australia, has been accepted by Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).
“As a new operator in Australia we’re delighted to have our EP accepted by NOPSEMA, our team having worked very closely with the regulator over the last six months to achieve this. Jadestone’s EP clearly demonstrates how the Company will reduce environmental impacts and risks to as low as reasonably practicable (ALARP) and an acceptable level, in consultation with our stakeholders, all of which is supported by our business management system.” said Mark Robertson, Jadestone’s General Manager in Australia.
The EP was revised in accordance with Australia’s Offshore Petroleum and Greenhouse Gas Storage (Environment) Regulations 2009. Since becoming titleholder and operator of the Stag Oilfield on July 10, 2017, Jadestone has been operating under an accepted EP developed by the previous operator Quadrant Energy.
Paul Blakeley, President and CEO commented “The acceptance of our revised EP marks another major milestone for Jadestone. Australia’s regulatory environment is stringent, and we have a great team that is able to thrive in this challenging environment. We continue to find ways to reduce waste by improving Stag’s efficiency, including increasing production rates by 40% and reducing unit operating expenses by 20% to date. Acceptance of our EP underscores the depth of experience and operating credentials the Jadestone team brings to managing second phase assets.”
Australia’s Quadrant Energy has transferred operatorship of the Stag oil field, offshore Australia, to Jadestone Energy, formerly known as Mitra Energy, in July 2017.
The Stag oil field produces crude oil from a shallow, low pressure reservoir, situated 60 kilometers north of the Australian coast. The field was initially developed in 1998, and achieved peak rates of 25,000 bbls/d, then entered a phase of steady decline, having produced just 2,570 bbls/d in the quarter prior to Jadestone taking over operatorship from Quadrant Energy on July 10, 2017.
Jadestone has recently managed to boost production to over 3,600 bbl/d. The field is located in block WA-15-L, 60 kilometers offshore Western Australia in the Carnarvon Basin at a water depth of approximately 47 meters.
Offshore Energy Today Staff