PTTEP has signed an agreement to sell its interest in (and operatorship of) the Montara field to Jadestone Energy (Eagle) Pty Ltd (Jadestone). Completion of the divestment is subject to customary regulatory approvals, including from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).
PTTEP has entered into an Operator and Transitional Services Agreement with Jadestone, which will govern the operation and management of the Montara assets until the transfer of operatorship is complete.
For more information visit Jadestone Energy.
The Montara Operations are located in Production Licences AC/L7 and AC/L8 in the Timor Sea, approximately 690km west of Darwin, 630km north of Broome and 250km north-west from the Kimberley coastline of Western Australia.
The Montara Operations involve the extraction of oil using subsea production wells within the Montara, Swift, Skua and Swallow fields.
The oil is transported via subsea flowlines to an unmanned Wellhead Platform (WHP) and then to the Montara Venture Floating Production Storage and Offloading (FPSO) facility.
The FPSO has an operational storage capacity of 750,000 barrels and accommodation space for 58 people. The FPSO is moored in the Montara field for the life of the project.
The Montara Operations facilities and infrastructure are maintained to ensure that over the life of the Project they perform their intended functions while risks to personnel, the environment and assets are minimised.
The Offshore Petroleum and Greenhouse Gas Storage (Environment) Regulations 2009 require Environment Plans (EP) be revised and resubmitted to the regulator, NOPSEMA, every 5 years.
Due to the planned transfer of operatorship of the Montara assets to Jadestone Energy, the revised EP will now be submitted by Jadestone, reflecting Jadestone as the operator. The revised EP is planned to be submitted to NOPSEMA in Quarter 4, 2018.
For more information on PTTEP AA’s divestment of the Montara Field and the status of activities covered under the Montara Operations EP, please see the factsheet below.
Click to Download the PTTEP Stakeholder Update Factsheet (Sept 2018) (429kb)
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