Lemang PSC - Akatara field

The Lemang production sharing contract contains the Akatara gas field, which Jadestone has redeveloped to supply gas, condensate and LPGs for local and regional use. The field commenced condensate production in June 2024 following mechanical completion and the introduction of reservoir gas into the facilities, with the key milestone of commercial gas sales achieved in July 2024. 

Jadestone has a 100% operated interest in the Akatara development, with the local government having a back-in right of up to 10% (uncarried interest) from the time of development sanction.

The Lemang PSC is located onshore Sumatra, close to major gas transportation infrastructure.

The Akatara gas field has been independently estimated to contain a 2P gross resource (pre local government back-in right) of 81 bscf of sales gas and 12.3 mmbbls of LPG and condensate, equating to a combined 25.8 mmboe of gross 2P resource.*

Jadestone has signed a gas sales agreement (“GSA”) for the Akatara field with PT Pelayanan Listrik Nasional Batam as buyer. The key terms of the Akatara GSA are detailed below:

Daily contract quantity (“DCQ”) of 20.5 BBtu/d Gas price of US$5.60/mmBtuAnnual take-or-pay quantity set at 90% of the adjusted annual contract quantityMaximum daily quantity set at 110% of DCQ
Jadestone is in the final stages of negotiating a second gas sales agreement for an incremental 3 bscf of gas sales to be sold at a premium to the existing GSA.

Jadestone has pursued a low-cost development of the field, including efficient re-use of existing wells and infrastructure, thereby minimising incremental impact on the local environment. Initiatives to reduce GHG emissions and enhance the environmental performance of the Akatara development have also been included within the development plan.

* Based on an independent review by ERCE, an independent qualified reserves auditor, dated 31 December 2023.

KeyFacts Energy: Jadestone Energy Indonesia country profile