Hibiscus Petroleum plans to bring forward its field operation experience from the Anasuria Cluster in the North Sea to the North Sabah oil asset at home in Malaysia, writes Russell Searanke.
The $25 million acquisition from Shell of a 50% interest in North Sabah is not quite unconditional. Hibiscus expects this to happen in late 2017 or early 2018.
The North Sabah position is, like the Anasuria Cluster, a mature oil asset with four producing oilfields — St Joseph, South Furious, SF 30 and Barton.
