Ithaca Energy, Hibiscus Petroleum and Caldera Petroleum have drawn up a unit operating agreement that will enable the joint development of Marigold East and West via Piper Bravo.
The door is open for a multi-million barrel North Sea oil and gas field to progress after it cleared the final regulatory hurdle.
Anasuria Hibiscus’ Teal West oil and gas field in the North Sea has been given the green light from one of the UK’s two offshore regulators.
Hisbiscus Petroleum reported its highest group quarterly production to date, even as revenues and output from its North Sea business fell on lower prices.
The sale of a UK North Sea oil and gas discovery has been delayed for the second time since its announcement in January.
Hibiscus Petroleum (KLSE: HIBISCS) plans go it alone in developing the Teal West project in the UK North Sea, as partner NEO Energy exits the licence.
Hibiscus Petroleum (KLS: HIBISCS) is preparing a number of subsea contracts in relation to its Teal West project in the UK North Sea.
Legal discussions over the Crown field continue, following the termination of the licence by Hibiscus Petroleum in September.
Malaysia’s Ping Petroleum has agreed a $22million deal to acquire Summit Exploration and Production’s 50% non-operated stake in the UK Avalon field.
EnQuest has agreed to farm-down an 85% stake in its Eagle discovery in the North Sea to Anasuria Hibiscus for a “nominal” $1 fee.
Hibiscus Petroleum has said it has now entered into “exclusivity arrangements” on an FPSO for its Marigold project in the North Sea.
Hibiscus Petroleum plans to move ahead with its Marigold project in the UK North Sea next year, with safeguards against delays around Covid-19.
A North Sea operator has said it is increasing food stocks on its flagship production asset “in case supply becomes limited” due to the Covid-19 outbreak.
Maintenance on its main production vessel and a drop in the oil price more than halved profits at Malaysia’s Anasuria Hibiscus.