Jadestone says the company intends to focus on 'near-term cash generating producing assets'
Jadestone advances Malaysian acquisitions
The Singapore-based firm is the latest independent to expand its upstream portfolio through the purchase of divested assets, this time in Malaysia
Singapore-based independent Jadestone Energy has received approval from Malaysian NOC Petronas to purchase stakes in four blocks in Peninsular Malaysia from SapuraOMV, a partnership between local firm Sapura Energy and Austria’s OMV. The deal is expected to be completed on or around 30 July this year. The assets comprise two operated blocks—with Jadestone acquiring 60pc of block PM 323 and 70pc of block 329—and non-operating stakes in PM318 and the combined Abu, Abu Kecil, Bubu, North Lukut and Penara licence. The acquisitions will add around 6,000bl/d oe—over 90pc of which is oil—to Jadestone’s production at a “low operating cost”. And the deal increases the firm’s proven and probable (2P)
Also in this section
22 April 2025
Saudi Arabia is growing as a geopolitical and diplomatic force amid an increasingly fractured world
22 April 2025
Modest downward revisions to 2025 supply belie the longer-term damage to E&P from a weaker oil market
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
