United Kingdom

United Kingdom at a Glance

On 10 March 2016, Hibiscus Petroleum acquired our very first producing asset – a package of geographically focused producing fields and associated infrastructure located in the North Sea, United Kingdom (UK), collectively known as the Anasuria Cluster (Anasuria). Anasuria delivers production that generates positive cashflow with infield future development opportunities and exploration upside. The addition of the Teal West discovery, an award to Hibiscus Petroleum as part of the UK Continental Shelf (UKCS) 32nd Licensing Round is a positive development and is expected to contribute to an increase in Anasuria’s production by 2025.

The addition of the Teal West discovery, an award to Hibiscus Petroleum as part of the UK Continental Shelf (UKCS) 32nd Licensing Round is a positive development and is expected to contribute to an increase in Anasuria’s production by CY2025. We also farmed-in to the Fyne development in November 2023 and plan to develop it via the Anasuria FPSO.

Expanding our footprint in the North Sea, Hibiscus Petroleum acquired the discovered Marigold West and Sunflower oilfields on 16 October 2018. This shallow-water development asset will deliver a step change to our production volumes and revenue generating capacity by CY2028.

Additionally, in line with our efforts to aggregate 2C oil resources at a competitive unit cost per barrel (as part of an area-wide development), we applied for (and were awarded), block 15/17a which contains part of the Kildrummy discovery (as part of the UKCS 32nd Licensing Round). Kildrummy lies in close proximity to the Marigold West and Sunflower fields. Subsequently, in 2024, as part of the UKCS 33rd Licencing Round, Hibiscus Petroleum acquired block 15/12a which contains the remainder of the Kildrummy discovery area together with the blocks 15/18a and 15/19a which contains the Crown discovery. In the same 33rd Licencing Round, Hibiscus Petroleum also acquired blocks 15/13c and 15/18c which contain the NW Marigold (Lead) and Cross (Prospect). All of these blocks are in close proximity to Marigold West and the Sunflower Fields and are collectively known as the Greater Marigold Area Development.

Anasuria Hibiscus UK Limited (Anasuria Hibiscus) Modern Slavery Act Statement (PDF)

Teal West Development

Regulation 11(1) Notice (PDF)

Project Summary (PDF)

Environmental Statement (ES/2022/006) (PDF)

Public Notice Published in The Telegraph (PDF)

Public Notice Published in The Press & Journal (PDF)

Highlights

NOTES:

¹ For the financial year ended 30 June 2023.
² As at 1 July 2023, based on Anasuria Hibiscus’ participating interest. The reserves estimates for Anasuria and Teal West are based on internal estimates, while the contingent resources report for the Marigold and Sunflower fields are based on RPS Energy’s report dated August 2020.
³ LTIF represents the frequency of lost time injuries (LTI), which includes fatalities, permanent disabilities or work hours lost due to workplace incidents, per 200,000 hours worked by both employees and contractors.
⁴ As at 30 September 2023, consists of personnel in the Anasuria Operating Company Limited and personnel dedicated to Anasuria operations from Petrofac Facilities Management Limited.

KEY:

• 2P Oil/Gas Reserves – Proven and probable oil/gas reserves.
• 2C Oil/Gas Resources – Best estimate contingent oil/gas resources.
• boe – Barrels of oil equivalent.
• MMbbl – Million barrels.
• Bscf – Billions of standard cubic feet of gas.
• LTIF – Lost Time Injury Frequency.
• USD – United States Dollar.
• ROSPA – Royal Society for the Prevention of Accidents.
• FPSO – Floating, Production, Storage and Offloading Vessel.
• FDP – Field development plan.
• FID – Final investment decision.
• NSTA – North Sea Transition Authority, UK (formerly known as Oil and Gas Authority, UK).