Malaysian operator Hibiscus Petroleum and Ithaca Energy expect to decide whether they can jointly develop a pair of North Sea fields by the end of this week.
Hibiscus Petroleum has said it has now entered into “exclusivity arrangements” on an FPSO for its Marigold project in the North Sea.
Anasuria Hibiscus is planning to sanction its Marigold development in the North Sea around March next year.
Anasuria Operating Company has appointed Peter Kavanagh, a former North Sea boss at Petrofac in Aberdeen, as its new chief operating officer.
Dana Petroleum is going back out to its supply chain for help plotting the way ahead for a UK North Sea development project.
Hibiscus Petroleum plans to move ahead with its Marigold project in the UK North Sea next year, with safeguards against delays around Covid-19.
Maintenance on its main production vessel and a drop in the oil price more than halved profits at Malaysia’s Anasuria Hibiscus.
Malaysian firm Hibiscus Petroleum has opted to use a floating production, storage and offloading vessel (FPSO) to develop a number of assets in the UK North Sea.
Malaysian oil firm Hibiscus Petroleum said today that it expects to have a field development plan in place for two UK North Sea blocks by the end of this year.