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.