Hibiscus, Ithaca pursuing different options for North Sea tiebacks

Offshore staff

KUALA LUMPUR, Malaysia – Hibiscus Petroleum has issued an update on a planned joint field development in the UK central North Sea.

In January, Britain’s Oil and Gas Authority (OGA) requested that the company’s subsidiary Anasuria Hibiscus UK work with Ithaca Energy on a common development solution for the Marigold and Yeoman discovery.

They have since agreed in principle to co-develop the Marigold resources in block 15/13a and block 15/18b which includes Yeoman (since renamed Marigold East) although terms have yet to be finalized.

Anasuria Hibiscus UK has proposed the use of an FPSO and has submitted its findings to the OGA. The company has an exclusivity agreement for use of an FPSO which is due to expire next month.

However, Ithaca is pursuing an alternative solution involving a potential tieback of the combined resources to the nearby Pipe B platform, operated by RepsolSinopec.

A concept select decision will probably follow next year, with the OGA indicating it will give Ithaca until the end of this year to finalize its tieback proposal.

08/26/2021