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 – –
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 14.52
2C Resources: 2.42		 2P Resources: 5.92
2C Resources: 0.82		 2C Resources: 0.72 –
Net Gas Reserves and Resources (Bscf) – – 2C Resources: 232.82 –

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 Aster
Exploration: Greater Central Area, Greater Silver Area
Licence Tenure 2047
Direct Interest 35.0%
Operatorship Operated
Asset Type Production
Facilities/Infrastructure 14 Platforms/Structures, 163 Wells1, 2 FSOs1
Net Oil Reserves and Resources (MMbbl) 2P Reserves: : 6.82
2C Resources: 5.12
Net Gas Reserves and Resources (Bscf) 2P Reserves: : 92.82
2C Resources: 47.82

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 24 Wells1
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 0.12
Net Gas Reserves and Resources (Bscf) –

United Kingdom

Jurisdiction United Kingdom
Fiscal System Concession
Licence Name Anasuria Cluster (or Anasuria)
P013 – Blocks 21/25a and 21/30a P185 – Block 21/20a 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 2026 2026
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: 14.54 2C Resources: 4.02 Subsurface studies yet to commence
Net Gas Reserves and Resources (Bscf) 2P Reserves: 10.84 – –

 

Jurisdiction United Kingdom
Fiscal System Concession
Licence Name Greater Marigold Area Development (GMAD)
P198 – Block 15/13a, P2158 – Block 15/18b 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 2028 2028 2027 2026 2029
Direct Interest 91.25%5 87.5% 100% 100% 100%
Operatorship Operated Operated Operated Operated Operated
Asset Type Development Development Development Development Development
Facilities/Infrastructure –
Net Oil Reserves and Resources (MMbbl) 2C Resources: 37.62 2C Resources: 4.12 2C Resources: 3.42 2C Resources: 3.32 –
Net Gas Reserves and Resources (Bscf) –

Australia

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

Brunei Darussalam

Jurisdiction Brunei Darussalam
Fiscal System Concession
Licence Name Block B
1989 Block B PMA
Fields Maharajalela Jamalulalam
Licence Tenure 2039
Direct Interest 37.5%
Operatorship Operated
Asset Type Production
Facilities/Infrastructure 3 Platforms1,
22 Wells1
Net Oil Reserves and Resources (MMbbl) 2P Reserves: 3.13
2C Resources: 0.23
Net Gas Reserves and Resources (Bscf) 2P Reserves: 152.43
2C Resources: 12.03

 

Notes:
1 As of July 2025.
2 As of 1 July 2025, based on internal estimates.
3 As of 1 July 2025, Block B’s 2P Reserves and 2C Contingent Resources are net to Hibiscus EP (Brunei) B.V.’s interest, based on RPS Energy’s report issued in May 2025 which has the figures up to 1 January 2025, and adjusted for actual production in the 6 months ended 30 June 2025.
4 As of 1 July 2025, based on the participating interest of Anasuria Hibiscus, derived from RPS Energy’s reports dated December 2024 and August 2025.
5 SPA for the acquisition of Ithaca’s entire equity in P2158 Block 15/18b and its entire 30% unit participation under the Unitisation and Unit Operating Agreement (UUOA) was executed on 27 March 2025 and completed on 29 August 2025.

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.
  • RPS Energy – Tetra Tech RPS Energy Ltd.