West Seahorse: the oilfield’s development concept involves a mobile offshore production unit linked to a floating storage and offloading vessel
Eyes on West Seahorse
23 May 2014 08:19 GMT
23 May 2014 07:46 GMT
Oz delay for Hibiscus
02 May 2014 12:00 GMT
18 August 2014 02:05 GMT
Malaysia's Hibiscus Petroleum has exercised its option to acquire an interest in VIC/L31 in the Gippsland basin to complete the deal.
Once approvals are secured from the National Offshore Petroleum Titles Administrator, the deal will be closed.
Hibiscus will then hold a 100% interest in the field.
While the company is exiting VIC/L31, it will remain a participant in VIC/P57 with an equity level of either 24.9% or 44.9% depending on whether HiRex exercises its options.
Joint venture partners are currently planning the drilling of the Sea Lion prospects in the first half of next year.
Hibiscus will buy the Britannia mobile offshore production unit from the West Seahorse joint venture as a way of expediting a potential field development.
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