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
PM3 Commercial Arrangement Area Production Sharing Contract
Hibiscus Petroleum’s Interest:
Hibiscus Oil & Gas Malaysia Limited
Petronas Carigali Sdn Bhd, PetroVietnam Exploration Production Corporation Ltd.
Commercial Arrangement Area between Malaysia and Vietnam
Field Life Cycle:
Bunga Orkid, Bunga Pakma, Bunga Raya, Bunga Seroja, Bunga Kekwa, Bunga Tulip
Fixed platforms with gas pipelines to Peninsular Malaysia and Vietnam, oil export via FSO Orkid and FSO PM3 CAA
25 January 2022
Kuala Lumpur, Kota Bharu, Kemaman
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.