Hibiscus Petroleum Berhad (Hibiscus Petroleum) is Malaysia’s first listed independent oil and gas exploration and production company. Our key activities are focused on monetising producing oilfields and growing our portfolio of development and production assets in areas of our geographical focus: United Kingdom, Malaysia and Australia.
As an operator of offshore oil and gas producing fields, our efforts are focused on enhancing operational efficiencies to safely deliver high-margin production from our assets. Our growth strategy in the current oil and gas market is to leverage on opportunities that are present within our portfolio of existing assets and make quality acquisitions on a selective basis, thus delivering sustainable returns to our shareholders.
We are committed towards upholding high standards of safety and environmental management. We also prioritise corporate governance, whilst expanding our business on strong technical and commercial foundations.
Hibiscus Petroleum is headquartered in Kuala Lumpur, and our securities are listed on the Main Market of Bursa Malaysia Securities Berhad and is a constituent on the FTSE4Good Bursa Malaysia index. Hibiscus Petroleum securities have been classified as being Shariah-compliant by the Shariah Advisory Council of the Securities Commission of Malaysia.
The 2011 North Sabah Enhanced Recovery Production Sharing Contract (North Sabah PSC) – our first Malaysian Asset – has been under our operatorship now for two full financial years. Our wholly-owned subsidiary, SEA Hibiscus Sdn Bhd, has been operator of the North Sabah PSC since 31 March 2018.
In FY2020, gross oil production saw a step change due to the success of various production enhancement projects. Further projects have been sanctioned to arrest natural decline and increase oil production.
The United Kingdom (UK) continental shelf is home to Hibiscus Petroleum’s first producing asset – the Anasuria Cluster, a group of producing oil and gas fields and associated infrastructure. We jointly operate this asset via our jointly-controlled entity, Anasuria Operating Company Limited.
Expanding our footprint in the North Sea, we acquired the discovered oilfields called Marigold and Sunflower and expect this development asset to deliver a step change to our production volumes.
In FY2020, we added to the UK portfolio when we completed the acquisition of the Crown discovered oilfield.
Most recently, we acquired interests in three new licences as part of the UK’s 32nd Offshore Licensing Round.
In the Bass Strait, we operate the VIC/L31 production licence and VIC/P57 exploration licence. We also have non-operated interests in the VIC/P74 exploration licence in the same area.
With the West Seahorse discovered oilfield, Australia holds significant exploration potential for Hibiscus Petroleum’s future development plans.