Hibiscus Petroleum Berhad (Hibiscus Petroleum) is Malaysia’s first listed independent oil and gas exploration and production company headquartered in Kuala Lumpur. Our key activities are focused on monetising producing oil and gas fields and growing our portfolio of exploration, development and production assets in areas of our geographical focus: Malaysia, Vietnam, Brunei, countries in Asia Pacific and the United Kingdom (UK).
As an operator of offshore oil and gas producing fields, our efforts are focused on safely enhancing value from the assets in which we have economic interests.
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 also bid for new licences, specifically if they cover areas in close proximity to the infrastructure that we operate.
We are committed towards upholding high standards of safety and environmental management. We also prioritise corporate governance and transparency, whilst expanding our business on strong technical and commercial foundations.
Hibiscus Petroleum securities are listed on the Main Market of Bursa Malaysia Securities Berhad. Hibiscus Petroleum is a constituent of the FTSE4Good Bursa Malaysia Index as well as the FTSE4Good Bursa Malaysia Shariah Index. Our securities have been classified as being Shariah-compliant by the Shariah Advisory Council of the Securities Commission Malaysia.
> Click to see our Corporate Structure (as of 13 October 2025)
MALAYSIA
Our journey in Malaysia commenced with the 2011 North Sabah Enhanced Oil Recovery (North Sabah) PSC. SEA Hibiscus Sdn Bhd (SEA Hibiscus) took on the role of operator for the North Sabah PSC on 31 March 2018. During our tenure as operator, we have effectively overseen the implementation of a range of production enhancement initiatives, leading to a significant increase in gross oil production sales.
In January 2022, we achieved a significant milestone by finalising the acquisition of interests in three Malaysian PSCs from Repsol Exploración, S.A. (Repsol). This move marked a substantial expansion of our presence and operations within the Malaysian oil and gas sector.
We secured interest and operatorship in the PKNB Cluster (PKNB) PSC by Petroliam Nasional Berhad (PETRONAS) in July 2024, our first direct PSC award. This was followed by the completion of a farm-in agreement in July 2024 with PETRONAS Carigali Sdn Bhd (PETRONAS Carigali) for interest in the PM327 PSC, one of the largest exploration blocks offshore Peninsular Malaysia.
Looking ahead, our vision includes the diligent execution of activities on additional prospects that we have identified. These endeavours, including the South Furious (SF) 30 Waterflood Phase 2 Project, are designed to counteract the natural decline of our production and sustain the upward growth trajectory of our oil and gas production. Of particular significance is that both the Kinabalu Oil PSC and the North Sabah PSC contribute their crude oil to the Labuan Crude Oil Terminal, a facility managed and operated by SEA Hibiscus. This seamless synergy across our assets further solidifies our prominent position in the Malaysian oil and gas landscape.
UNITED KINGDOM
On 10 March 2016, Hibiscus Petroleum completed the acquisition of its first producing asset – the Anasuria Cluster (Anasuria), located in the North Sea, UK. This asset comprises geographically focused producing oilfields, namely Guillemot A, Teal, Teal South and Cook, all tied back to the Anasuria Floating, Production, Storage and Offloading Vessel (FPSO). 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. In addition, Hibiscus Petroleum also has interests in the Fyne field and is evaluating a potential tie-back development of this field to the Anasuria FPSO.
Expanding our footprint in the North Sea, Hibiscus Petroleum is also looking to progress the Greater Marigold Area Development (GMAD) which consists of Marigold West, Marigold East, Sunflower, Kildrummy, Crown and Cross.
AUSTRALIA
In the Bass Strait, we operate the VIC/RL17 petroleum retention lease (previously known as the VIC/L31 production licence). We also have indirect interests in four other licences through our interest in 3D Energi Limited.
VIETNAM
We completed the acquisition of the Block 46 Cai Nuoc PSC (Block 46) from Repsol in January 2022 as part of the same acquisition which included three Malaysian PSCs and the PM3 CAA PSC. It lies adjacent to PM3 CAA PSC and oil produced from Block 46 is processed at the PM3 CAA facilities.
MALAYSIA-VIETNAM COMMERCIAL ARRANGEMENT AREA (CAA)
Acquisition of the PM3 Commercial Arrangement Area (PM3 CAA) PSC from Repsol was completed in January 2022 and lies within the CAA established between Malaysia and Vietnam. It is our largest source of gas production, with gas being piped to Malaysia and Vietnam. Production enhancement projects, including the longest well drilled in Malaysia and two successful exploration discoveries, have been instrumental in improving production.
BRUNEI DARUSSALAM
In October 2024, we completed the acquisition of the entire equity interest in TotalEnergies EP (Brunei) B.V., now renamed as Hibiscus EP (Brunei) B.V. (Hibiscus Brunei). Through this acquisition, we assumed operatorship and now hold a 37.5% interest in the Block B Maharajalela Jamalulalam (Block B MLJ) gas field in Brunei Darussalam – a mature, producing asset situated in a highly prolific hydrocarbon-bearing region. Discovered in 1989, the field has been producing gas and condensate since 1999.
Our joint venture partners in Block B MLJ are Shell Deepwater Borneo B.V. and Brunei Energy Exploration Sdn Bhd. This strategic acquisition enhances the Group’s portfolio by increasing the gas component of our total production to nearly 50%, advancing our objective of building a more balanced and resilient reserves and resources mix.