Search results for: Hibiscus

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A list of search results

  • 15 August 2012
    Business & Finance

    3D Oil Limited has entered into a conditional Farm-in Agreement and Subscription Agreement with Hibiscus Petroleum Berhad. Under the Farm-in Agreement, Hibiscus Petroleum will acquire a 50.1% interest in petroleum exploration permit VIC/P57 up front, and will invest up to A$27m in tranches to fund joint operations on the permit. Under the Subscription Agreement, Hibiscus […]

  • 26 October 2015
    Project & Tenders

    Hibiscus Petroleum has started drilling operations at its Sea Lion-1 exploration well, offshore Victoria, Australia. The company spudded the well on Monday on October 26, 2015. Hibiscus took over the West Telesto jack-up rig on October 20, 2015. The rig arrived at the Sea Lion site two days later, following a 196 mile tow from its […]

  • 20 August 2015
    Business & Finance

    Hibiscus Petroleum’s jointly-controlled entity, Lime Petroleum Norway, has executed an agreement with Lundin Norway to acquire a 30% stake in license PL 410 in the North Sea. According to Hibiscus, drilling is anticipated in 2016. Upon completion of the transaction, that is subject to the relevant authority approval, the parties to the license will be […]

  • 12 October 2016
    Business & Finance

    Oil and gas giant Shell is divesting several of its offshore fields in Malaysia. The company has signed a deal with Hibiscus Petroleum to sell its entire fifty percent participating interests in the 2011 North Sabah Enhanced Oil Recovery production sharing contract (“PSC”). Hibiscus will buy Shell’s interests in four producing oil fields and associated infrastructure for $25 million. […]

  • 2 April 2018

    Hibiscus Petroleum’s subsidiary has completed its acquisition of a 50% participating interest in the 2011 North Sabah PSC and the joint operating agreement in relation to the PSC.

  • 8 February 2018
    Business & Finance, Exploration & Production, Infrastructure

    Hibiscus Petroleum is preparing to drill a sidetrack well on the Anasuria field in the UK North Sea, following an award of a drilling contract to one of Seadrill’s semi-submersible rigs. 

  • 29 September 2015
    Exploration & Production, Project & Tenders

    Hibiscus Petroleum is experiencing yet another delay in drilling the Sea Lion-1 exploration well, offshore Australia, as the bad weather is preventing a rig handover.  3D Oil Limited, a partner in the permit VIC/P57, said on Tuesday that the handover of the West Telesto jack-up rig from Origin Energy, the current operator, had been prevented due to […]

  • 25 February 2020
    Project & Tenders

    Malaysia’s Hibiscus Petroleum has seen a 20% increase in oil production from the North Sabah PSC located offshore Sabah, Malaysia.  In a Bursa Malaysia filing on Tuesday, Hibiscus reported that average gross oil production from its North Sabah asset improved by approximately 20% compared to the previous financial quarter contributed by new oil production from […]

  • 7 July 2014
    Business & Finance

    Hibiscus Petroleum group, had on 4 July 2014, signed a series of binding agreements with its Australian partner, 3D Oil Limited (3D Oil), to increase its effective stake in both the VIC/L31 Production Licence, offshore Australia, which contains the West Seahorse discovered field, and the VIC/P57 Exploration Permit which is believed to contain several exploration […]

  • 6 December 2013

    Hibiscus Petroleum has announced that the National Offshore Petroleum Titles Administrator (NOPTA) of Australia has on 5 December 2013, awarded the VIC/P57 joint venture, a Production Licence VIC/L31, over the West Seahorse oil field in the offshore Gippsland Basin, Victoria, Australia. “The Production Licence award provides greater certainty to the West Seahorse project. A Final Investment Decision is currently […]

  • 28 May 2019
    Project & Tenders

    Hibiscus Petroleum is currently considering several options for the development of its Marigold and Sunflower fields in the UK North Sea with plans to decide on the development plan by the end of 2020. 

  • 23 June 2014
    Business & Finance, Operations & Maintenance

    Hibiscus Petroleum Berhad informed that its wholly-owned subsidiary, Timor Hibiscus Limited, has executed a Share Sale Agreement for the acquisition of 100% of the shares in Talisman Resources  Pty Ltd, a wholly-owned subsidiary of  Talisman Energy Inc. The assets of the company acquired include a 25% stake in the Kitan producing oil field. Based on […]

  • 25 November 2016
    Business & Finance

    Malaysia’s independent oil & gas company Hibiscus Petroleum delivered a higher profit during its first financial quarter ended September 30, 2016, backed by revenues from the Anasuria cluster in the UK North Sea. The Malaysian company bought 50% of Anasuria Cluster interest from the oil giant Shell in an agreement signed in August last year. The Anasuria […]

  • 11 September 2019
    Exploration & Production

    BW Energy has decided to proceed with a sidetrack of the DH1BM-1 well on the Dussafu Marin Permit, located offshore Gabon, as the discovery may be bigger than expected.

  • 7 March 2018
    Project & Tenders

    A joint venture between Hibiscus Petroleum and 3D Oil has been granted renewal of exploration permit VIC/P57 in the Gippsland Basin offshore Australia for a further five year term.

  • 31 May 2016

    Malaysia’s independent exploration and production company Hibiscus Petroleum returned to profit for the financial period ended March 31, 2016 due to completion of acquisition of Shell’s Anasuria cluster in the UK North Sea.  To remind, in August 2015, Shell reached an agreement to sell a batch of its North Sea oil fields to Ping Petroleum Limited and Hibiscus Petroleum whereby each […]

  • 16 November 2015
    Exploration & Production, Project & Tenders

    Hibiscus Petroleum last week said that the drilling operation at the Sea Lion-1 well, offshore Victoria, Australia was unsuccessful, and no commercial volumes of oil and gas were found. In an update on Monday, November 16, 3D Oil Limited, a partner in the VIC/P57 area where the well is located, said that the Sea Lion […]

  • 16 October 2015
    Project & Tenders

    Hibiscus Petroleum Berhad is closing to spudding its Sea Lion-1 exploration well, offshore Victoria, Australia, following several delays. The company on Friday said that its subsidiary, Carnarvon Hibiscus Pty Ltd (CHPL) would take over the West Telesto drilling rig soon, as the rig was demobilized from its previous assignment. The spud date for the CHPL operated Sea Lion-1 […]

  • 7 October 2014
    Business & Finance, Project & Tenders

    Hibiscus Petroleum Berhad has announced that its jointly-controlled entity, Lime Petroleum Norway AS has completed the acquisition of a 5% stake each in PL591 and PL591B, located in the Norwegian Sea. North Energy signed a purchase and sale agreement with Lime Petroleum Norway in June 2014. The transfer of the equity interests in PL591 and […]

  • 6 September 2018
    Exploration & Production

    Hibiscus Petroleum has completed the drilling of the GUA‐P2 sidetrack well located in the Central North Sea, offshore UK.

  • 25 August 2014

    Hibiscus Petroleum has skipped another hurdle towards acquiring a stake in the Kitan oil field, located in the Timor Sea, from Talisman Energy.

  • 6 December 2017

    Malaysia’s Hibiscus Petroleum has received consent from Petronas under the joint operating agreement to acquire a 50% participating interest in the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract from Shell.  Shell signed a deal with Hibiscus Petroleum to sell its entire participating interests in the 2011 North Sabah EOR PSC back in October 2016. The […]