Kuala Lumpur (3 September) – Hibiscus Petroleum offered 3 Licences as part of the 32nd United Kingdom Offshore Licensing Round Awards launched by the UK Oil and Gas Authority (“OGA”) in July 2019.
In a statement to Bursa Malaysia, this Malaysia’s independant oil and gas exploration and production company announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK Limited (“AHUK”), has today been offered the award.
The Licensing Round offered blocks in mature, producing areas close to existing infrastructure, under flexible terms of the Innovate Licence which enables companies like AHUK to define a licence duration and phasing that would result in the execution of an optimal work programme.
The licenses that have been offered to AHUK are as follows:
i) Block 21/24d: The block contains the Teal West discovery, which is contagious to the Teal field and is located approximately 4km from Teal manifold of the Anasuria cluster
A 70% interest in Block 21/24D has offered for award to AHUK with the remaining 30% to be held by Zennor Petroleum Limited
AHUK bid for this license as we believe the Teal West discovery to be a potential tieback candidate to the Anasuria floating production and offloading facility (Anasuria FPSO) in which AHUK has significant interests.
ii) Block 21/19C and Block 21/20C: These block are contagious with the Cook field.
The Blocks offered for award will reflect a similar equity holding as that of the Cook field i.e. AHUK has been offered 19.3%, Ithaca Energy UK Limited has been offered 61.4% and Ping Petroleum UK Limited has been offered 19.3% in each of both blocks
iii) Block 15/17a: This block is located 8km from Marigold field which is currently operated by AHUK. This block contains part of the Kildrummy discovery plus a minor part of the Beaumaris discovery and the Udny prospect. The license offered for award to AHUK is on a 100% basis.
It is hoped that the Kildrummy discovery may become a potential tieback candidate to infrastructure implemented as part of the Marigold development.
The 32nd UK Offshore Licensing Round, which closed in early November 2019, is offering acreage in the Central North Sea, Southern North Sea, Northern North Sea, and the West of Shetlands.
Hibiscus Petroleum currently operating producing assets in UK, Anasuria Cluster and has the licenses and field discoveries in Marigold cluster.
Anasuria Cluster, comprising:
- Cook (19.3%) Producing Field
- Teal (100%) Producing Field
- Teal South (100%) Producing Field
- Guillemot A (100%) Producing Field
- Anasuria FPSO (100%) FPSO
In Malaysia, Hibiscus Petroleum operating the North Sabah PSC after it acquired 50% participating interest in the PSC from Shell in 2018.
