Jadestone Takes Full Ownership of Indonesia's Lemang Block

---

Researched by Industrial Info Resources (Sugar Land, Texas)--Singapore-based oil and gas production company Jadestone Energy has completed its acquisition of the Lemang Block, located on Indonesia's Sumatra island. Jadestone now owns 100% of the Lemang Block, but with back-in rights from local government agencies.

Jadestone acquired PT Hexindo Gemilang Jaya's 10% stake in the block for US$500,000, inclusive of applicable transfer taxes paid directly to the Indonesian government.

Lemang PSC is home to the Akatara gas field, which is scheduled to commence development next year. The Akatara field alone is reported to hold an estimated 18.7 million barrels of oil equivalent.

Industrial Info is tracking more than US$1.2 billion worth of active Oil & Gas Industry projects across Indonesia's Sumatra island. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can click here for a list of detailed project reports, and can click here for a list of related plant profiles.

In 2020, Jadestone acquired a majority stake (90%) in the Lemang Block from Mandala Energy.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).