Hibiscus provides updates on offshore Rosebay, MLJ, Marigold and Sunflower projects

Operator Petronas Carigali has found gas with its second commitment well on the PM327 Block offshore Peninsular Malaysia.

According to partner Hibiscus Petroleum, the Rosebay-1 exploration well reached its final depth late last year after encountering two minor gas sands in the H-45 and I-45 reservoirs. Findings from the well will be applied to planning for future exploration wells in the block.

Straits Hibiscus, an indirect wholly owned subsidiary of Hibiscus Petroleum, signed a farm-in agreement to acquire a 30% participating interest in the PM327 production sharing contract (PSC), an exploration block located to the south of the PM3 CAA PSC. The farm-in was completed in September 2024. 

Offshore Brunei Darussalam in Block B, Hibiscus expects the compressor for a low-pressure compression project for the Maharajalela Jamalulalam (MLJ) gas field to be delivered to the project site by the end of March.

In the UK central North Sea, the company’s Anasuria Hibiscus UK subsidiary has received approval from the North Sea Transition Authority for its application to extend the P198 Marigold and Sunflower license until June 30, 2028. This is on the condition that related work for a field development plan is submitted by June 30, 2026. 

Last December, all parties concerned signed a deed of variation to extend the license, and work continues on a new concept select report, including the Greater Marigold Development Area.

The field development plan will follow completion of this work.