Search results for: hibiscus petroleum

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  • 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 […]

  • 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 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • 24 March 2015
    Business & Finance

    Hibiscus Petroleum’s jointly-controlled entity Lime Norway has secured an increase in the financing facility from NOK 300 million ($38.21 million) to NOK 700 million ($89.15 million). Lime Norway is a wholly-owned subsidiary of Lime Petroleum PLc (Lime). Lime is a jointly-controlled entity in which Hibiscus Petroleum owns a 35% stake. The facility was obtained from Skandinaviska […]

  • 26 November 2013

    Hibiscus Petroleum Berhad (Hibiscus Petroleum) has announced that its jointly-controlled entity, Lime Petroleum Plc (Lime), through its subsidiary Masirah Oil Ltd (Masirah), has begun drilling an exploration well in Masirah North North #1 (MNN #1), located in the Block 50 Oman concession, on 25 November 2013.   This is part of a 2-well drilling programme […]

  • 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. […]

  • 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 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 […]

  • 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 […]

  • 16 April 2015
    Business & Finance

    Hibiscus Petroleum’s jointly-controlled entity, Lime Petroleum Norway AS (Lime Norway), has executed an agreement with Lundin Norway AS (Lundin) to acquire a 30% interest in PL544, in the North Sea.   Lundin is the operator at PL544. The parties in the license will be Lundin with 40%, Bayerngas Norge AS2 holding 30%, and Lime Norway owning the remaining 30%, […]

  • 25 February 2014
    Business & Finance

    Lime Petroleum Norway AS  has on 20 February 2014 signed an agreement with North Energy ASA  to acquire a 20 per cent stake in a new licence in Norway, PL509CS. North Energy was awarded operatorship of the licence in Predefined Areas (“APA”) on 21 January 2014. The acquisition of the 20 per cent stake in […]

  • 12 May 2014
    Business & Finance

    Following Hibiscus Petroleum Berhad’s (Hibiscus Petroleum) successful oil discovery in the Middle East in early February 2014, its Australian partner 3D Oil Limited (3D Oil) has agreed to transfer a 20% interest in the VIC/P57 exploration permit located in the Gippsland Basin off Victoria to HiRex Petroleum Sdn Bhd (HIREX) at a nominal cost. The Gippsland […]

  • 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 […]

  • 4 March 2019
    Exploration & Production

    Hibiscus Petroleum’s jointly‐controlled operating company, Anasuria Operating Company, is on track to execute the Guillemot A GUA‐P1 side‐track well, a planned production enhancement project at the Anasuria Cluster concession in the UK North Sea.

  • 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. 

  • 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 […]

  • 19 August 2013
    Business & Finance

    Hibiscus Petroleum Berhad (Hibiscus Petroleum) today announced that its jointly-controlled entity, Lime Petroleum Plc (Lime), through its subsidiary Masirah Oil Limited (Masirah), has awarded a drilling rig contract to Aban 7 Pte Ltd (Aban) for the execution of its drilling programme in the company’s Block 50 Oman concession. The contract will be effective for a minimum period of […]

  • 23 June 2014
    Business & Finance

    Hibiscus Petroleum has executed a Share Sale Agreement for the acquisition of 100% of the shares in Talisman Resources (JPDA 06 105) 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 the current estimates, Hibiscus expects the […]

  • 1 April 2015
    Business & Finance, Exploration & Production

    Hibiscus Petroleum’s jointly-controlled entity, Lime Norway, has executed an agreement with Skagen44 to acquire an additional 10% interest in PL616, located in the North Sea. The transfer of this additional stake is subject to regulatory approval, and upon completion, will increase Lime Norway’s interest in the license to 15%. Lime Norway had earlier acquired a […]