Jadestone announces mechanical completion of Akatara gas facility in Indonesia
Asia Pacific-focused energy company Jadestone Energy announced on June 24 the mechanical completion of the Akatara gas processing facility in Indonesia and the introduction of the first gas into the facility.
The Akatara gas processing facility has reached the milestone of mechanical completion, indicating that all components and systems of the facility have been constructed, installed, and tested prior to the commercial production of the Akatara gas field.
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On June 22, reservoir gas was introduced to the facility from the Akatara-A4 well, initiating a period of final commissioning using reservoir gas. Condensate is already being processed into the facility’s storage tanks in preparation for sale, with the first commercial gas and LPG sales to follow.
The Lemang production sharing contract contains the Akatara gas field development, which was sanctioned in June 2022. The field has been independently estimated to contain 18.7mn barrels of oil equivalent of gross 2C resources.
The company bought a 90% stake in the PSC in 2020 from Mandala Energy. Two years later, Jadestone completed the acquisition of the remaining 10% interest in the project.
The Akatara project will supply gas to local gas-fired power plants while the condensate and LPG will be sold for local residential use. In 2021, Jadestone reached an agreement to sell gas from the Akatara gas field to local utility Pelayanan Listrik Nasional Batam.