Singaporean operator Jadestone Energy has blamed the impact of Covid-19 restrictions for a decline in operational uptime and production over the first half of 2020, but the company remains on the lookout for asset acquisitions.
Jadestone revealed Thursday that second-quarter output averaged 12,566 barrels of oil equivalent per day, up 7.7% on the first-quarter, however output over the combined six months of 2020 was down 8.1%, year-on-year, at 12,116 boepd.
Covid-19 impacts uptime performance
The year-on-year decline came as Jadestone revealed its combined uptime performance had been below plan, at 74%, due to restrictions imposed by the Covid-19 pandemic, including reduced manning, as well as delays to executing well workovers, other planned facility upgrades and interventions.
