Hibiscus Petroleum completes infill drilling campaign off Malaysia
Malaysia’s Hibiscus Petroleum has completed the St Joseph minor sands infill and major sands redevelopment infill drilling campaign off Malaysia, adding 2,200 barrels per day of crude oil production.
Hibiscus said on Monday that its wholly-owned subsidiary, SEA Hibiscus, had completed the campaign in September 2020 in the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (North Sabah PSC).
This campaign entailed the drilling and completion of four infill oil producers on the St Joseph Jacket-F (SJJT-F) platform.
Through this infill drilling development campaign, SEA Hibiscus has added an instantaneous incremental 2,200 barrels per day of crude oil production and added approximately 4 million stock tank barrels of incremental life of field gross reserves.
With the addition of these new infill wells, daily gross production capacity in the North Sabah PSC has now exceeded 20,000 barrels per day in September 2020.
This is a significant rise above production levels of circa 14,000 barrels per day when SEA Hibiscus first assumed operatorship of the North Sabah PSC in 2018.
Commenting on these results, SEA Hibiscus’ Chief Executive Officer, Dr. Pascal Hos said: “This was an extremely fast track project which was executed safely and successfully while having to navigate through personnel and logistics constraints during the various Movement Controls Order (MCO) periods this year.
“The North Sabah PSC is a mature asset, with St Joseph operating since 1979 and yet we are pleased to be able to continue to find, execute and realise value accreting opportunities. Hibiscus is hungry to grow, and we are actively searching for opportunities to replicate the successes we have achieved in North Sabah”.
To recap, SEA Hibiscus assumed operatorship of the North Sabah PSC on 31 March 2018, as a 50 per cent joint venture working interest partner with Petronas Carigali.
The North Sabah PSC consists of St Joseph South Furious, SF30 and Barton, 4 fields located offshore Sabah in Malaysia, which collectively produce to the Labuan Crude Oil Terminal.