Malaysia-Vietnam Commercial Arrangement Area At A Glance

Malaysia-Vietnam Commercial Arrangement Area At A Glance

On 24 January 2022 we completed the acquisition and transfer of operatorship in the PM3 CAA PSC as part of the same acquisition which include the three Malaysian PSCs and one Vietnamese PSC. The PM3 CAA PSC has allowed us to diversify our production into gas.

PM3 CAA PSC

Asset Name:
PM3 CAA PSC

Licence:
PM3 Commercial Arrangement Area Production Sharing Contract

Hibiscus Petroleum’s Interest:
35%

Operator:
Hibiscus Oil & Gas Malaysia Limited

Non-operating Partners:
Petronas Carigali Sdn Bhd, PetroVietnam Exploration Production Corporation Ltd.

Asset Location:
Commercial Arrangement Area between Malaysia and Vietnam

Water Depth:
56m

Field Life Cycle:
Production

Producing Fields:
Bunga Orkid, Bunga Pakma, Bunga Raya, Bunga Seroja, Bunga Kekwa, Bunga Tulip

Development Type:
Fixed platforms with gas pipelines to Peninsular Malaysia and Vietnam, oil export via FSO Orkid and FSO PM3 CAA

Acquisition Date:
25 January 2022

Office Locations:
Kuala Lumpur, Kota Bharu, Kemaman

Production Award:
Awarded the BRONZE award for Project Delivery Excellence for tremendous performance and successful delivery of the H4 Development Facilities Project despite the unprecedented Covid-19 pandemic and volatile market conditions. The project had recently achieved First Water Injection on 12th February 2022 and subsequently proceeded to deliver First Oil on 30th April 2022 as scheduled.