Jupiter Energy Limited (ASX: “JPR”) is pleased to provide this update regarding its strategic gas utilisation infrastructure project.
- Newly installed gas pipelines enable the Akkar East and Akkar North (EB) oilfields to integrate into neighbouring gas utilisation facilities, providing a long term solution to the important issue of 100% gas utilisation.
The Company has been regularly updating shareholders on the significance of building the requisite topside infrastructure that will enable all the wells on the Akkar North (EB) and Akkar East oilfields to be tied into a neighbouring producer’s gas utilisation infrastructure (“the Project”).
The Project is now completed, the pipeline has been commissioned and the first sale of associated gas to neighbour MangistauMunaiGas (“MMG”) has taken place.
The integration of the West Zhetybai oilfield into this same gas utilisation infrastructure is scheduled to be completed during 2025.
The Company now has surety that all associated gas that is produced whilst completing its full field drilling program(s) over its proven oil reserve base, can be utilised in a approved manner. This is a critical milestone for any oil producer in Kazakhstan that has expectations of achieving long term production under its full commercial licences, with sales into both the Kazakh domestic and international export markets.
As a result of the Project, the Company has also been able to develop a much stronger working relationship with its significant oil producing neighbour MMG and the Kazakh Ministry of Energy. Both these relationships are important to the Company, now and into the future.
Of underlying importance, the Project has been identified as a key example of how associated gas, produced during oil production, can be better processed and utilised for the benefit of producers, the local community as well as assisting Kazakhstan in meeting the country’s long term “carbon free” objectives.
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