Hibiscus Petroleum is a growing independent oil and gas exploration and production company. We are relatively young as an organisation, having been established in 2011. However, our foundations run deep.
Our Management team delivers value each day that originates from a base of knowledge, and a wide range of business relationships and experience that have been built through more than 300 years of combined exposure to our industry through upcycles and downcycles, working for a diverse mix of industry players in various international settings.
We have a clear vision. We strive to be a respected and valuable IOC. To be ‘respected’ has many interpretations. For the team at Hibiscus Petroleum, it simply means that we wish to be recognised as a serious and responsible participant in a truly global and competitive business landscape that requires:
strict and continuous adherence to host-country laws and an implementation of internationally accepted safety, environmental and technical standards; and
a deep understanding of petroleum related fiscal systems and general project and cost management skills.
We are also applying ourselves to being ‘valuable’. We believe that if we are ‘valuable’, then we are delivering something desired by our stakeholders which we hope, incentivises them to further collaborate or invest in us.
The words ‘respected’ and ‘valuable’ are both subjective in nature. They denote that our vision is a journey with an undefined destination. Our challenge, each step of the way, is to ensure that we extract a maximum in returns in exchange for a minimal of resources, always keeping in mind that the delivery of our vision must be executed safely and responsibly.
Whilst our vision for the Company is long term in nature, for the period 2017 to 2021 our goals are specific. Over the next four years certain growth objectives have been set, these being:
securing a net entitlement of at least 100 MMbbls of net proved and probable oil reserves; and
achieving an average of 20,000 barrels (bbls) of oil per day in production, net to the Company.