Hibiscus Petroleum’s vision is to become a respected and valuable independent oil and gas company with a focus on conventional upstream oil and gas resources. Our core mission is for the Company to achieve an average production of 10,000bbls/day and a 2P reserves base of 50 mmbbls of oil. Our strategic mission is to achieve a further 50 mmbbls of 2P reserves through acquisitions. We are a growing exploration and production company with focus on developing a balanced portfolio of oil and gas assets consisting of:


  • Producing assets which generate sufficient cash to fund our future exploration and development activities while creating a sustainable and growing business that does not have to seek additional funding from shareholders repeatedly. Interests in the Anasuria Cluster is the first of our material producing assets.


  • Development assets where discovered oil and gas reserves are monetised through field development and where we can execute our projects in a timely and cost effective manner. Subject to a Final Investment Decision, the West Seahorse field in Australia will be the first development project for Hibiscus Petroleum; and


  • Promising exploration permits that have a significant inventory of drillable prospects









Asset : North Sabah EOR PSC

50% interest in the 2011 North Sabah EOR PSC:

  • St Joseph Producing Field

  • South Furious Producing Field

  • SF 30 Producing Field

  • Barton Producing Field

  • All associated equipment and assets related to the PSC including the Labuan Crude Oil Terminal


Location : Offshore Sabah, Malaysia


SPA Date : 12 October 2016

Completion Date: 31 March 2018


Effective Date : 1 January 2017


Operator : SEA Hibiscus Sdn Bhd


Sellers :

Sabah Shell Petroleum Company Limited; and Shell Sabah Selatan Sdn Bhd (collectively “Shell”)

Production Life :

Producing since 1979 with production rights up to 2040.


Future Prospects :

Once resources are channelled towards identified future development opportunities, subject to capex and oil price, the incremental 2C resources may be exploited.

For more information on this asset, please refer to the latest Investor Presentation.
























Asset Name: Anasuria Cluster, comprising:

  • Cook (19.3%) Producing Field

  • Teal (100%) Producing Field

  • Teal South (100%) Producing Field

  • Guillemot A (100%) Producing Field

  • Anasuria FPSO (100%) FPSO


Effective Interest: 50% of Anasuria Cluster (Hibiscus is Joint Operator)


Asset Type: Producing assets with development and exploration potential based around the Anasuria FPSO


Location: ~ 175 km east of Aberdeen, UK North Sea


Water depth: ~ 94 m


Operator: Anasuria Operating Company Limited (JOC) Note 1


Partner: Ping Petroleum Limited


Note 1:  Joint Operating Company with equal ownership between Anasuria Hibiscus UK Limited (a wholly-owned subsidiary of Hibiscus Petroleum) and Ping Petroleum Limited.


The Anasuria Cluster comes with stable positive cash flow from current production with in-field future development opportunities and exploration upside. It represents an attractive, geographically focused package of operated interests in producing fields and associated infrastructure. The assets have a proven and producing resource base which provides a platform for further development. A number of incremental development and exploration opportunities exist within the licence areas which are expected to generate significant incremental value in the medium term.







Asset Name: Marigold & Sunflower



  • P198, Blocks 15/13a & 15/13b

  • P2366, Blocks 15/18d & 15/19b


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

Water Depth: ~140m

For more information on this asset, please refer to the latest Investor Presentation.


Asset Name: VIC/L31 (West Seahorse Field)

Effective Interest: 100% (Hibiscus is Concession operator)

Acquisition Date: January 2013

Licence type: Production License

Reserves: 8.0 MMbbls of 2P + 2C Oil Reserves


Asset Name: VIC/P57

Effective Interest: 78.3% (Hibiscus is Concession Operator)

Acquisition Date: January 2013

Licence Type: Exploration Permit

Water Depth/Size: Up to 150m/460km2


Hibiscus Petroleum holds substantial equity interest and is the Operator of two licences – VIC/L31 and VIC/P57 – in Australia via our wholly-owned subsidiary, Carnarvon Hibiscus Pty Ltd (CHPL). Both licences are located offshore, in shallow water, in the Gippsland Basin and are core assets to the company. As the Operator, we have a high level of operational and financial control and we are responsible for the entire planning and execution of all activities under these licences.


The VIC/L31 production licence includes the West Seahorse discovered field, whilst the VIC/P57 exploration licence comprises several geologically exciting prospects.


The development of the West Seahorse field has been a key objective of our company due to the near term visibility on the development and subsequently, production of this field. In the current low and volatile oil price environment, the Company has deferred the Final Investment Decision for the West Seahorse development project. As for the VIC/P57 permit, in accordance with our obligations under the terms of the permit, CHPL has recently drilled an exploration well in the Sea Lion prospect in the second quarter of 2015, demonstrating our ability to execute drilling operations offshore Australia whilst maintaining a good HSE track record.


For more information, please refer to the latest Investor Presentation.


© 2020 by Hibiscus Petroleum Berhad

Registration Number: 200701040290 (798322-P)