Jadestone snaps up Sapura s Malaysian assets
Apr 30, 2021 8:45:am
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by: Shardul Sharma
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Jadestone snaps up Sapura s Malaysian assets
Southeast Asia-focused Jadestone Energy signed an agreement to acquired SapuraOMV Upstream s assets in Peninsular Malaysia for $9mn in cash, it said on April 30.
The company will acquire interests in four licences, two of which will be operated by Jadestone. These include a 70% operated interest in the PM329 production sharing contract (PSC), containing the East Piatu field, and a 60% operated interest in the PM323 PSC, which contains the East Belumut, West Belumut and Chermingat fields. Jadestone estimates accessing 12.5mn barrels oil equivalent of net working interest 2P reserves. All fields are in production.