Jadestone is the operator of the PNLP license offshore Peninsular Malaysia, currently overseeing operations and maintenance in shut-in mode following the withdrawal of previous operator Petronas Carigali. The reinstatement of production and further development of the license is subject to retaining the licence as part of the ongoing Malaysia Bid Round Plus process, and approval of a development plan by the regulator Petronas.
The PNLP license encompasses several oil and gas fields, including North Lukut, Penara, Puteri, and Padang, now known as the Puteri Cluster. These assets are strategically located close to Jadestone’s core operational interests, which consist of the PM323 and PM329 licenses, along with the recently acquired PM428 license. The geographical proximity positions PNLP as a pivotal production hub, allowing synergy with PM428 and the sharing of essential infrastructure to optimise overall operations.