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(Alliance News) - Jadestone Energy Inc has successfully installed replacement undersea cables at the Montara complex off the coast of Australia, it said on Thursday.
The umbilical cables, Jadestone said, are an "essential" part of the control system at Montara's subsea wells, providing electrical power and control signals to well-heads. They should last for the remaining life of the field.
Chief Executive Paul Blakeley said: "I'm pleased to have completed this major capital project as the operator of Montara, safely, and on budget. Early on, we recognised the need to replace the control link to the Montara subsea wells, and this was done as soon as possible, following acceptance of Jadestone's safety case for Montara.
"I think of this as a one-off maintenance project, and having it completed now will provide greater confidence in our ability to deliver guidance volumes from Montara."
Jadestone's safety case for the Montara field was accepted by the Australian regulator in August.
Shares were 0.5% lower on Thursday afternoon in London at 54.00 pence each.
By George Collard; georgecollard@alliancenews.com
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