Through its wholly-owned subsidiary, Anasuria Hibiscus UK, the Malaysian company owns 50% of Block 15/13a containing a significant oil bearing discovered field, called Marigold and Block 15/13b which lies northeast of 15/13a contains a smaller discovered field, called Sunflower. In 2019 the company was appointed the main operator of the Blocks, partnering with Caldera Petroleum.
From an independent AGR TRACS report, the gross contingent oil resources in both blocks are estimated to be 60 MMboe, with 30 MMboe net for Anasuria Hibiscus UK.
Hibiscus Petroleum – the operator – is considering between a fixed platform, a floating solution or a tieback to nearby existing infrastructure. A detailed plan is to be submitted by the end of 2020. The target is to boost the group’s net oil production by 12,500 boepd by 2023.
Hibiscus Petroleum undertakes operations on the UKCS together with partner Ping Petroleum, as Joint Operator in the Anasuria cluster comprising of Cook (38.6%), Teal (100%), Teal South (100%) and Guillemot A (100%) producing fields, along with Anasuria FPSO (100%).
Other successes include the drilling of the first sidetrack well on Guillemot A, which could yield 1.5m barrels in total. The Malaysian duo is now trying to unlock other 1.7m barrels with a second sidetrack well on the same field. Drilling estimated to finish during the next quarter.