United Kingdom

United Kingdom at a Glance

On 10 March 2016, Hibiscus Petroleum completed the acquisition of its first producing asset – the Anasuria Cluster (Anasuria), located in the North Sea, United Kingdom (UK). This asset comprises geographically focused producing oilfields, namely Guillemot A, Teal, Teal South and Cook, all tied back to the Anasuria FPSO. Anasuria delivers production that generates positive cashflow while also presenting opportunities for future infield development and exploration upside.

The addition of the Teal West field, awarded to Hibiscus Petroleum as part of the UK Continental Shelf (UKCS) 32nd Licensing Round, signifies a positive development and is expected to contribute to an increased production from Anasuria by mid-CY2026.

Expanding our footprint in the North Sea, Hibiscus Petroleum acquired the discovered Marigold West and Sunflower oilfields on 16 October 2018. This shallow-water development asset will deliver a step change in production volumes and revenue-generating capacity.

Additionally, in line with our efforts to aggregate 2C oil resources at a competitive unit cost per barrel as part of an area-wide development, Hibiscus Petroleum applied for and was awarded the Kildrummy field through the UKCS 32nd and 33rd Licensing Rounds. Kildrummy is located in close proximity to the Marigold West field. In the 33rd Licensing Round, we were also awarded the Crown field, the Cross prospect and the Marigold extension lead.

In 2023, Hibiscus Petroleum and Ping Petroleum UK PLC (Ping Petroleum) farmed into the Fyne field, which was initially held by Rapid Oil Production Ltd (Rapid Oil). In late August 2025, we completed the acquisition of the Marigold East field from Ithaca Energy, which now gives us full ownership of the Marigold Field. This further strengthens our presence and development potential in the region.

We have now established two strategic production hubs in the UK. The first is the Anasuria Cluster, an existing and producing asset that includes Teal West field, and potentially the Fyne field. The second is the Greater Marigold Area Development (GMAD), which encompasses Marigold, Sunflower, Kildrummy, Crown and Cross prospect fields.

Our optimised, area-wide development for the UK Quad 15 area through GMAD positions it as a second key production hub. This approach is fully aligned with the UK government’s strategy to maximise economic recovery from the UKCS while reducing the carbon intensity of the host assets.

Anasuria Hibiscus UK Limited (Anasuria Hibiscus) Modern Slavery Act Statement (PDF)

Teal West Development

Regulation 11(1) Notice (PDF)

Project Summary (PDF)

Environmental Statement (ES/2022/006) (PDF)

Public Notice Published in The Telegraph (PDF)

Public Notice Published in The Press & Journal (PDF)

Highlights

ANASURIA AVERAGE UPTIME¹

76%

ANASURIA AVERAGE NET DAILY PRODUCTION RAT¹

1,778

boe/day

ANASURIA AVERAGE UNIT PRODUCTION COST¹

41.61

USD/boe

LTIR^1,3

0

2P OIL RESERVES²

14.5

MMstb

2P GAS RESERVES²

10.8

Bscf

2C OIL RESOURCES²

52.4

MMbbl

Notes:

¹ For the financial year ended 30 June 2025.

² As at 1 July 2025, based on internal estimates, extracted from RPS Energy’s report dated December 2024 and August 2025.

³ LTIR represents the frequency of lost time injuries (LTI) which include fatalities, permanent disabilities or workhours lost due to workplace incidents per 200,000 hours worked by both employees and contractors.

Key:

• 2P Oil or Gas Reserves – Proven and probable oil or gas reserves.
• 2C Oil or Gas Resources – Best estimate contingent oil or gas resources.
• boe – Barrels of oil equivalent.
• MMstb – Million stock tank barrels.
• Bscf – Billions of standard cubic feet of gas.
• LTIR – Lost Time Injury Rate.
• USD – United States Dollar.
• ROSPA – Royal Society for the Prevention of Accidents.
• FPSO – Floating, Production, Storage and Offloading Vessel.
• RPS Energy – Tetra Tech RPS Energy Limited.
• CY – Calendar year.