bp sells interest in Australian offshore oil field to Jadestone

Sinochem News reported on July 31, 2022 that Singapore-based Jadestone Oil & Gas has agreed to acquire all 16.

These offshore fields, also known as the Northwest Shelf Petroleum Project, are operated by Woodside Energy

The FPSO vessel, which was installed in the 4 fields in 2011, has a crude oil processing capacity of 60,000 barrels per day, as well as water treatment, natural gas treatment and reinjection facilities

The fields will average 12,461 bpd in 2021 and 14,178 bpd in the first quarter of 2022

The fields also produce associated gas, which the Northwest Shelf Petroleum Project partners are entitled to use to fuel the Okha FPSO, and the rest of the associated gas is used as feedstock for the Northwest Shelf LNG project

It is reported that Jadestone Oil and Gas Company has an estimated 890 million barrels of crude oil reserves, which provides an opportunity for further investment in enhanced oil recovery

The transaction is in the form of asset purchases, including bp's 16.