Jadestone to restart production at Montara

Jadestone Energy updated the market on the Montara Project, offshore Australia on Thursday, reporting that it successfully completed its four-yearly topsides maintenance programme, and was now progressing with production restart activities.

The AIM-traded firm said the Montara Venture floating production, storage and offloading (FPSO) facility underwent final tank inspection and repairs, and the NOPSEMA General Direction was lifted in February.

Since then, the company had focussed on completing its maintenance programme to ensure the safety and reliability of the FPSO and its associated equipment.

“While performing necessary testing on process equipment during restart activity, a small number of inconsistencies in standard fittings were identified and are currently being rectified to ensure safe operation,” the board said in its statement.

“This activity is expected to be completed in approximately one week.”

At 1439 GMT, shares in Jadestone Energy were up 2.38% at 74.12p.

Reporting by Josh White for Sharecast.com.