StockMarketWire.com - Independent oil and gas production company Jadestone Energy announced a new offtake arrangement for its Stag oilfield offshore Australia.

Jadestone awarded a contract to an international tanker provider who would supply modern double hulled tankers, to directly offload Stag crude oil.

The first offtake tanker was scheduled to arrive in the field in mid September 2020. Multiple offtake tankers would rotate through the field on a schedule that optimises production continuity, the company said.

These arrangements were expected to realise annual savings of approximately 20% over the current floating storage and offloading operation with the owner of the Dampier Spirit.




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