Offshore staff
KUALA LUMPUR, Malaysia — Hibiscus Petroleum subsidiary Anasuria Hibiscus UK (AHUK) entered a unitization and unit operating agreement on Sept. 15 for a joint development of the Marigold Field in the UK central North Sea.
The other parties are Ithaca Oil and Gas and Caldera Petroleum UK Ltd. AHUK has an 87.5% interest in license P198 Block 15/13a, containing the Marigold West Field, with Caldera holding the remaining 12.5%.
Ithaca has outright ownership of P2158 Block 15/18b, adjacent to Marigold West and containing the Marigold East Field.
Pursuant to the agreement, the respective unit participations in the unitized Marigold Field will be AHUK (61.25%), Caldera (8.75%) and Ithaca (30%).
An integrated project team led by AHUK, with secondees from Ithaca, will prepare the field development plan, which should be submitted early next year.
In addition, AHUK and Caldera will develop the Sunflower Field in Block 15/13b, also part of 198, as a subsea tie-in to the Marigold infrastructure with a separate field development plan submission.
09.20.2023
