Offshore staff
KUALA LUMPUR, Malaysia – Hibiscus Petroleum subsidiary Anasuria Hibiscus UK and Ping Petroleum UK have entered identical farm-in agreements with Rapid Oil Production to license P2451 in the UK North Sea.
They will each acquire a 42.5% interest, with Rapid Oil retaining 15%.
The license contains the 75-MMboe Fyne oilfield that numerous operators have considered developing over the past few decades.
Subject to approval by the UK’s North Sea Transition Authority, Anasuria Hibiscus will be named operator of the field development, with first oil targeted for 2026.
At that point Anasuria Operating Company (equally owned by Anasuria Hibiscus and Ping Petroleum) will take over as operator of Fyne’s production from Anasuria Hibiscus.
Fyne, in 90 m water depth, is 16 km from the Anasuria FPSO. Plans call for an initial single-well tieback to the vessel.
09.01.2023
