SKK Migas states Jadestone wants to "farm in" to producing fields

Jakarta (ANTARA) - The Head of the Special Task Force for the Implementation of Upstream Oil and Gas Business Activities (SKK Migas), Djoko Siswanto, stated that Jadestone Energy, a Singapore-based oil and gas company, is interested in “farming in” to fields that are already producing. “(Interested) in farming in to fields that are already producing. For new exploration, not yet,” Djoko Siswanto told ANTARA when met at the Ministry of Transmigration office in Jakarta on Monday. Farm-in is a scheme whereby a company, in this context Jadestone Energy, enters a working area (oil and gas block) by purchasing ownership from a company that already holds the block. However, Djoko Siswanto said Jadestone Energy has not yet disclosed the specific oil and gas field it is targeting. “It’s being evaluated by them,” said Djoko Siswanto. Djoko Siswanto added that Jadestone Energy is currently developing the Lemang Working Area in Jambi. The average production of the Lemang Working Area stands at 6,400 BOEPD. In an official statement, Jadestone Energy CEO T. Mitch Little and his team outlined plans for more aggressive expansion in Indonesia. Jadestone Energy Indonesia Country Manager Andi Iwan Uzamah revealed that Jadestone is actively targeting acquisition and partnership opportunities, particularly for assets in the development or production stages. “Our focus is on assets that are already in the development or production stage so they can be optimised immediately. We are also open to strategic collaborations, either through partnerships or acquisitions, including for assets that have not been optimally developed (stranded assets),” said Andi. For the upstream oil and gas industry, Jadestone’s commitment is not merely corporate expansion but a concrete indicator that Indonesia’s upstream oil and gas investment climate remains competitive and promising. Jadestone’s contributions, encompassing gas, condensate, and LPG production, also strengthen its strategic role in supporting national energy security. With an open expansion approach from western to eastern Indonesia, covering both onshore and offshore assets, Jadestone demonstrates a long-term commitment to growing alongside the national oil and gas industry.