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 producing assets in areas of our geographical focus: the 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. Hibiscus Petroleum is a constituent on the FTSE4Good Bursa Malaysia Index as well as the FTSE4Good Bursa Malaysia Shariah 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 Oil Recovery Production Sharing Contract (North Sabah PSC) is our first Malaysian oil and gas asset. At this time, it is our largest source of production. SEA Hibiscus Sdn Bhd has been the operator of the North Sabah PSC since 31 March 2018.
We have successfully implemented production enhancement projects, leading to an increase in gross oil production sales. We plan to execute further prospects in the future to avert 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 in 2018 and expect this development asset to deliver a step change to our production volumes in the near future. In FY2021, we were awarded interest in three licences in the UK i.e. the Teal West and the Kildrummy discovered oilfields, plus Cook West and Cook North expanding our acreage position around the Cook Field.
In the Bass Strait, we operate the VIC/RL17 retention licence and VIC/P57 exploration licence. We also have non-operated interests in the VIC/P74 exploration licence located in the same area.