Singapore-headquartered oil & gas player Jadestone Energy has reported damage to its Stag oil-producing field located offshore Western Australia as a result of a Category 5 storm.
Due to the projected path of Cyclone Narelle, which developed into a Category 5 Storm with sustained wind speeds of over 200 km/hr, Jadestone shut down the Stag facilities on March 23 and demobilized the platform.
Storm-related damage was observed on the platform and at the offloading facilities after returning to the facilities on March 28, with Jadestone now assessing the damage and developing plans for repairs and resuming production.
“The Group has appropriate insurance in place, for both physical damage and loss of production income and is working with insurers through the standard claims process. Based on information currently available, Jadestone does not expect this incident to have a material financial impact on the Group’s current year or longer-term cashflow projections,” Jadestone reported.
Before the shutdown, the field was producing approximately 2,000 bbls/d. Its export lines were cleared of hydrocarbons prior to shut-in and there was no release of hydrocarbons to the environment, the company reported.
Jadestone acquired a 100% operated interest in Stag in November 2016. The field is located within the boundaries of the WA-15-L production license in the Carnarvon Basin, 60 kilometers offshore Western Australia, in a water depth of approximately 47 meters.
The field was developed using a fixed leg, 12-slot manned central processing facility platform with a liquids production capacity of 50,000 bbls/d, of which 30,000 bbls/d is for oil. This is connected by an eight-inch underwater export pipeline to a pipeline end manifold where shuttle tankers directly load crude oil via a catenary anchor leg mooring buoy.