Hibiscus negotiating farm-in to North Sea oil fields
Oct. 12, 2018
Hibiscus Petroleum subsidiary, Anasuria Hibiscus UK has a conditional agreement to acquire a 50% interest from Caldera Petroleum (UK) in two UK North Sea blocks for $37.5 million.
Offshore staff
KUALA LUMPUR, Malaysia – Hibiscus Petroleum subsidiary, Anasuria Hibiscus UK has a conditional agreement to acquire a 50% interest from Caldera Petroleum (UK) in two UK North Sea blocks for $37.5 million.
Blocks 15/13a and 15/13b are in production license P198, 250 km (155 mi) northeast of Aberdeen. The former contains a potentially significant oil discovery while block 15/13b to the northeast has a smaller discovered field.
Consultant AGR TRACS International estimates contingent 2C oil resources across the blocks at 60 MMbbl.
Hibiscus Petroleum managing director Dr. Kenneth Pereira said: “We are excited by this acquisition. It is a key component of our 2021 mission to secure 100 MMbbl of proved and probable reserves.
“Furthermore, the blocks are located in an area that is close to other discoveries and existing infrastructure.”
