Jadestone’s expansion plans mature

The independent is looking to capitalise as more companies move to exit mature oil and gas assets, CEO Paul Blakeley tells Petroleum Economist

Asia-Pacific focused independent Jadestone Energy’s recent entry into Malaysia’s upstream is the latest step in a long-term strategy the company hopes will turn it into a major regional player. The developer’s focus over the last five years has been on acquiring mature producing assets that offer “speed to cash flow”, says Jadestone CEO Paul Blakeley. After a turbulent 2020 that saw the company slash its cost base to ride out international oil price volatility, Jadestone is once more chasing assets that will bolster its production and reserve base. “Majors are happy to exit an asset once its best days are behind it. They are not as efficient, slowed down by processes that are designed to min