United Kingdom

United Kingdom at a Glance

 

On 10 March 2016, Hibiscus Petroleum acquired our very first producing asset – a package of geographically focused producing fields and its associated infrastructure located in the North Sea, United Kingdom (UK), collectively known as the Anasuria Cluster. The Anasuria Cluster (Anasuria) comprises production that generates positive cash flow with infield future development opportunities and exploration upside.

Expanding our footprint in the North Sea, Hibiscus Petroleum acquired the discovered oilfields called Marigold and Sunflower on 16 October 2018. This shallow-water development asset will deliver a step change to our production volumes and revenue generating capacity by 2023.

Additionally, we acquired the Crown discovery, also in the North Sea, close to the Marigold and Sunflower fields. This has allowed us to aggregate 2C oil resources at a competitive unit cost per barrel as part of an area-wide development.

Most recently, we acquired interests in three new licences as part of the UK’s 32nd Offshore Licensing Round: P2535 (Block 21/24d, containing the Teal West discovery), P2532 (Blocks 21/19c and 21/20c, contiguous to the Cook field) and P2518 (Block 15/17a, containing the Kildrummy discovery).

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

Anasuria Cluster

Asset Name:
Anasuria Cluster

Licences:
P013, P185, P2535, P2532

Asset Location:
United Kingdom Central North Sea, ~175km east of Aberdeen

Water Depth:
~94m

Acquisition Date:
10 March 2016

Office Locations:
Kuala Lumpur, Aberdeen

Safety Award:
In September 2019, the Anasuria FPSO received the Order of Distinction from ROSPA, UK for 20 consecutive annual gold awards

 

1) P013 & Anasuria FPSO

Hibiscus Petroleum’s Interest:
50%

Operator:
Anasuria Operating Company Limited, jointly owned by Anasuria Hibiscus and Ping Petroleum UK Limited

Non-operating Partner:
Ping Petroleum UK Limited

Field Life Cycle:
Production

Producing Fields:
Teal, Teal South, Guillemot A

Discovered Field:
Kite

Development Type:
Subsea tieback to Anasuria FPSO

2) P185

Hibiscus Petroleum’s Interest:
19.3%

Operator:
Ithaca Energy (UK) Limited

Field Life Cycle:
Production

Producing Field:
Cook

Development Type:
Subsea tieback to Anasuria FPSO

Asset infrastructure is laid over a distance of approximately 25km.

3) P2535 (Block 21/24d)

Hibiscus Petroleum’s Interest:
70%

Operator:
Anasuria Hibiscus

Non-operating Partner:
Zennor Petroleum Limited

Field Life Cycle:
Development

Discovered Field:
Teal West

4) P2532 (Blocks 21/19c and 21/20c)

Hibiscus Petroleum’s Interest:
19.3%

Operator:
Anasuria Hibiscus

Field Life Cycle:
Development

Marigold & Sunflower

Asset Name:
Marigold & Sunflower

Licences:
P198, Blocks 15/13a & 15/13b
P2366, Blocks 15/18d & 15/19b
P2518, Block 15/17a

Asset Location:
UK Central North Sea, ~250km northeast of Aberdeen

Water Depth:
~140m

Office Locations:
Kuala Lumpur, Aberdeen

 

1) P198 (Blocks 15/13a, 15/13b)

Hibiscus Petroleum’s Interest:
87.5%

Operator:
Anasuria Hibiscus

Non-operating Partner:
Caldera Petroleum (UK) Limited

Field Life Cycle:
Development

Discovered Fields:
Marigold and Sunflower

2) P2366 (Blocks 15/18d, 15/19b)

Hibiscus Petroleum’s Interest:
100%

Sale & Purchase Agreement Date:
7 October 2019

Operator:
Anasuria Hibiscus

Field Life Cycle:
Development

Discovered Field:
Crown

Target Development Milestones:

  • 2021: FID & OGA Approval of FDP
  • 2023: First oil

3) P2518 (Block 15/17a)

Hibiscus Petroleum’s Interest:
100%

Operator:
Anasuria Hibiscus

Field Life Cycle:
Development

Discovered Field:
Kildrummy

Highlights

ANASURIA AVERAGE UPTIME1

84%

AVERAGE NET DAILY PRODUCTION RATE1

2,898

boe/day
AVERAGE UNIT PRODUCTION COST1

19.3

USD/boe
LTIF1,3

0

2P OIL RESERVES2

21.5

MMbbl
2P GAS RESOURCES2

9.9

Bscf
2C OIL RESOURCES2

49.6

MMbbl
2C GAS RESOURCES2

18.0

Bscf
PERSONNEL WORKING ON ANASURIA OPERATIONS4

132

DEDICATED PROJECT TEAM FOR MARIGOLD

24

Notes:

1. For the financial year ended 30 June 2020.
2. The reserves and resources estimates for Anasuria are based on the Gaffney, Cline & Associates Limited report as of 1 July 2020 and based on Anasuria Hibiscus’ participating interest as at 1 July 2020, while the contingent resources for the Marigold and Sunflower fields are based on the RPS Energy Consultants Limited report as of 1 July 2020 and based on Anasuria Hibiscus’ participating interest as at 31 March 2021.
3. LTIF represents the number of lost time injuries (LTI) i.e. fatality, permanent disability or time lost from work occurring in a workplace per 1 million hours worked by employees and contractors.
4. As at 30 September 2020, consists of personnel in the Anasuria Operating Company Limited and personnel dedicated to Anasuria operations from Petrofac Facilities Management Limited.

 

Key:

  • 2P Oil/Gas Reserves – Proven and probable oil/gas reserves.
  • 2C Oil/Gas Resources – Best estimate contingent oil/gas resources.
  • boe – Barrels of oil equivalent.
  • MMbbl – Million barrels.
  • Bscf – Billions of standard cubic feet of gas.
  • LTIF – Lost Time Injury Frequency.
  • USD – United States Dollar.
  • ROSPA – Royal Society for the Prevention of Accidents.
  • FPSO – Floating, Production, Storage and Offloading Vessel.
  • FDP – Field development plan.
  • FID – Final investment decision.
  • OGA – Oil and Gas Authority, United Kingdom