Jadestone Energy has signed a rig contract for infill drilling on the Stag oilfield, located offshore Australia.
The Asia Pacific region focused oil and gas production company has signed the rig contract with Ensco Australia for the Stag oilfield.
Under the contract, Ensco Australia will provide Ensco 107 jack-up drilling rig to Jadestone. The rig will be delivered after completion of its current operation in Dampier, Western Australia.
Jadestone president and CEO Paul Blakeley said: “I am pleased to have signed the rig contract with Ensco to drill Stag-49H, the first infill well at the Stag field since 2013, and an important milestone for the company too.”
Jadestone plans to drill the Stag-49H well from the Stag wellhead platform, aiming unswept pay in the Stag reservoir southwest of the platform.
The Stag-49H well will target nearly 1.2 mmbbl of incremental oil reserves from the field. Drilling operations at the well are expected to take approximately 34 days.
The company intends to spud the Stag-49H well at the field in early March 2019.
Located 60km offshore Western Australia in the Carnarvon Basin, Stag oilfield is present in a water depth of approximately 47m.
Jadestone has a 100% operated working interest in Stag field. It also has a 100% working interest in the Montara project, offshore Australia, effective 1 January 2018.
The two assets include oil producing fields, with further development and exploration potential.
Besides, it has a 100% operated working interest in two gas development blocks in Southwest Vietnam.
In May 2018, the company received approval for outline development plans (ODP) from Vietnam’s Ministry of Industry and Trade (MOIT) for the Nam Du and U Minh gas fields located in block 46/07 and block 51, respectively, offshore Southwest Vietnam.
As per the ODPs, the Nam Du and U Minh fields, as stand-alone developments, will use existing infrastructure including a nearby pipeline to feed the onshore Ca Mau power complex and adjacent 800,000 ton/year fertilizer plant.