StockMarketWire.com - Jadestone Energy said Friday the Montara oil field was set to resume production following an extensive maintenance and inspection shutdown.

The documentation required to satisfy safety requirements and direction letter issued by regulator NOPSEMA, were in the process of being evaluated and the 'close-out is anticipated within days,' Jadestone said.

'The conclusion of this maintenance and inspection activity will result in improved facility reliability and uptime going forwards, resulting in no major planned shutdowns until at least the second half of 2020,' the company said.

Work had been completed and the facilities were undergoing the final stages of pressure testing to ensure asset integrity and a safe restart of production, the company said.

'During the shutdown, Montara personnel logged more than 9,000 hours of work, all executed without a single safety incident,' said Paul Blakeley, President and CEO.

'In addition to resolving the regulatory non-compliance notices, which in our view now safeguards the integrity and reliability of the Montara assets, we have worked closely with NOPSEMA, the offshore regulator, to satisfy their concerns as laid out in Direction Notice 0732, and are waiting for their final support to a full restart of production.'




At 9:05am: [LON:JSE] Jadestone Energy Inc Com Shs Npv Di share price was +0.3p at 34.2p



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