Asset Portfolio

Hibiscus Petroleum Group operates or jointly operates production sharing contracts or concessions in Malaysia, Vietnam, Brunei Darussalam, the United Kingdom and Australia. Our portfolio consists of production, development and exploration assets.

United Kingdom Australia Malaysia Brunei Vietnam Vietnam

United Kingdom

The United Kingdom (UK) continental shelf is home to Hibiscus Petroleum’s first producing asset – the Anasuria Cluster, a group of producing oil and gas fields and associated infrastructure. We jointly operate this asset via our jointly-controlled entity, Anasuria Operating Company Limited.

Expanding our footprint in the North Sea, we acquired the discovered oilfields called Marigold and Sunflower in 2018 and expect this development asset to deliver a step change to our production volumes in the near future. In FY2021, we were awarded interest in three licences in the UK i.e. the Teal West and the Kildrummy discovered oilfields, plus Cook West and Cook North expanding our acreage position around the Cook Field.

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Malaysia

The 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (North Sabah PSC) is our first Malaysian oil and gas asset. At this time, it is our largest source of production. SEA Hibiscus Sdn Bhd has been the operator of the North Sabah PSC since 31 March 2018.

We have successfully implemented production enhancement projects, leading to an increase in gross oil production sales. We plan to execute further prospects in the future to avert natural decline and increase oil production.

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Australia

In the Bass Strait, we operate the VIC/RL17 retention licence and VIC/P57 exploration licence. We also have non-operated interests in the VIC/P74 exploration licence located in the same area.

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Malaysia

 

Jurisdiction

 Malaysia
Fiscal System Production Sharing Contract (PSC)
Licence Name North Sabah PSC Kinabalu PSC PKNB Cluster PSC PM327 PSC
2011 North Sabah Enhanced Oil Recovery PSC 2012 Kinabalu Oil PSC
Fields Producing:
St Joseph, South Furious, South Furious 30 (SF30), Barton		 Producing:
Kinabalu Main, Kinabalu East, Kinabalu Far East		 Discovered:
Pertang, Kenarong, Noring, Bedong
Licence Tenure 2040 2032 2048 2051
Direct Interest 50.0% 60.0% 65.0% 30.0%
Operatorship Operated Operated Operated Non-operated
Asset Type Production Production Development Exploration
Facilities/Infrastructure 21 Platforms/Structures, 146 Wells, 1 Crude Oil Terminal 2 Platforms1, 36 Wells1 3 Platforms (future) –
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 18.42
2C Resources: 8.92		 2P Resources: 6.43 2C Resources: 1.8 –
Net Gas Reserves and Resources (Bscf) – – 2C Resources: 273.0 –

Malaysia-Vietnam Commercial Arrangement Area (CAA)

Jurisdiction Malaysia-Vietnam Commercial Arrangement Area (CAA)
Fiscal System PSC
Licence Name PM3 CAA PSC
PM3 Commercial Arrangement Area PSC
Fields Producing:
Bunga Orkid, Bunga Pakma, Bunga Raya, Bunga Seroja, Bunga Kekwa, Bunga Tulip, Bunga Lavatera, Bunga AsterExploration: Greater Central Area, Greater Silver Area
Licence Tenure 2027
Direct Interest 35.0%
Operatorship Operated
Asset Type Production
Facilities/Infrastructure 14 Platforms/Structures, 143 Wells, 2 FSOs
Net Oil Reserves and Resources (MMbbl) 2P Reserves: : 3.1⁴
Net Gas Reserves and Resources (Bscf) 2P Reserves: : 49.03

Vietnam

Jurisdiction Vietnam
Fiscal System PSC
Licence Name Block 46 Cai Nuoc PSC
Fields Producing:
Cai Nuoc
Discovered:
Hoa Mai
Licence Tenure 2027
Direct Interest 70.0%
Operatorship Operated
Asset Type Production
Facilities/Infrastructure 9 Wells
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 0.23
Net Gas Reserves and Resources (Bscf) –

United Kingdom

Jurisdiction United Kingdom
Fiscal System Concession
Licence Name Anasuria Cluster (or Anasuria)
P013 – Teal, Teal South, Guillemot A P185 – Cook P2535 – Block 21/24d P2451 – Block 21/28b P2532 – Block 21/19c
Fields Producing:
Teal, Teal South,
Guillemot A		 Producing:
Cook		 Discovered:
Teal West		 Discovered:
Fyne		 Prospects:
Cook West as potential extension of the current Cook field
Licence Tenure Life of Field Life of Field Life of Field Life of Field Life of Field
Direct Interest 50.0% 19.3% 100.0% 42.5% 19.3%
Operatorship Jointly-operated Non-operated Operated Operated Non-operated
Asset Type Production Production Development Development Exploration
Facilities/Infrastructure 13 Subsea Wells1, 1 FPSO1 –
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 20.95 2C Resources: 4.05 Subsurface studies yet to commence
Net Gas Reserves and Resources (Bscf) 2P Reserves: 11.35 – Subsurface studies yet to commence

 

Jurisdiction United Kingdom
Fiscal System Concession
Licence Name Greater Marigold Area Development
P198 – Block 15/13a P198 – Block 15/13b P2518 – Blocks 15/17a & 15/12a P2608 – Blocks 15/18a & 15/19a P2635 – Blocks 15/13c & 15/18c
Fields Discovered:
Marigold		 Discovered:
Sunflower		 Discovered:
Kildrummy		 Discovered:
Crown		 Prospect:
Cross
Lead:
Hydrocarbon northwest of the Marigold field
Licence Tenure Life of Field Life of Field Life of Field Life of Field Life of Field
Direct Interest 61.25% 87.5% 100% 100% 100%
Operatorship Operated Operated Operated Operated To be operated
Asset Type Development Development Development Development Exploration
Facilities/Infrastructure –
Net Oil Reserves and Resources (MMbbl) 2C Resources: 32.55,6 2C Resources: 5.54M 2C Resources: 3.94 2C Resources: 4.44 Subsurface studies yet to commence
Net Gas Reserves and Resources (Bscf) – Subsurface studies yet to commence

Australia

Jurisdiction Australia
Fiscal System Concession
Licence Name Bass Strait
VIC/RL17
Fields Discovered:
West Seahorse
Licence Tenure 4 November 2026
Direct Interest 100%
Operatorship Operated
Asset Type Development
Facilities/Infrastructure –
Net Oil Reserves and Resources (MMbbl) 2C Resources: 8.04
Net Gas Reserves and Resources (Bscf) –

Brunei Darussalam

Jurisdiction Brunei Darussalam
Fiscal System Concession
Licence Name Block B
Fields Maharajalela Jamalulalam
Licence Tenure 2039
Direct Interest 37.5%
Operatorship Operated
Asset Type Production
Facilities/Infrastructure 3 Platforms, 22 Wells, 1 Onshore Processing Plant
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 3.4
2C Resources: 1.0
Net Gas Reserves and Resources (Bscf) 2P Reserves: 109.8
2C Resources: 34.6

 

Notes:
1 As of January 2024.
2 As of 1 July 2024, based on the current estimate net entitlement of SEA Hibiscus, derived from RPS Energy Consultants Limited’s report dated August 2023 for the PSC life, adjusted for actual production.
3 As of 1 July 2024, based on the current estimate net entitlement of the FIPC Group, derived from RPS Energy Consultants Limited’s report dated August 2022 for the PSC life, adjusted for actual production in the 24 months ended 30 June 2024 and incremental 2P Reserves from new projects.
4 As of 1 July 2024, based on the participating interest of Anasuria Hibiscus, derived from RPS Energy Consultants Limited’s report dated August 2020.
5 As of 1 July 2024, based on internal estimates.
⁶ Post execution of UUOA on 15 September 2023.

KEY

  • FPSO: Floating Production, Storage and Offloading vessel.
  • FSO: Floating Storage and Offloading vessel.
  • 2P Reserves: Proven and probable reserves.
  • 2C Resources: Best estimate contingent resources.
  • MMbbl: Million barrels.
  • Bscf: Billion standard cubic feet.