Jadestone completes Thai gas deal
Asia Pacific-focused Jadestone Energy has completed the deal to acquire stakes in the Sinphuhorm gas field and Dong Mun gas discovery onshore Thailand, it said on February 23. The deal was announced last month.
The company has acquired a 9.52% non-operated interest in the producing Sinphuhorm gas field and a 27.2% interest in the Dong Mun gas discovery onshore northeast Thailand from Salamander Energy, a unit of Indonesia’s Medco Energi Internasional. Jadestone will acquire 4.6mn boe of 2P reserves.
The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.
“The transaction is a first step towards creating a significant natural gas component within Jadestone's portfolio over the medium-term and establishes a low-cost platform for growth in Thailand,” it said.
Due to an effective date of January 1, 2022, the headline cash consideration of $32.5bn became $27.8mn on completion, due to customary closing adjustments, Jadestone said.