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PETALING JAYA: Hibiscus Petroleum Bhd’s wholly owned subsidiary SEA Hibiscus Sdn Bhd has increased its aggregate gross production by 3,200 barrels per day with the completion of St Joseph infill drilling campaign in North Sabah.
According to Hibiscus’ filing with the stock exchange, the campaign saw the completion of three infill oil producers utilising triple splitter wellheads on the St Joseph Jacket‐A platform in the 2011 North Sabah enhanced oil recovery production sharing contract (North Sabah PSC) with minimal modifications to topside facilities.
The group said the project is expected to add life of field gross reserves of 2.77 million stock tank barrels.
SEA Hibiscus CEO Dr Pascal Hos revealed that the aggregate production results of 3,200 barrels per day have exceeded the group’s pre-drill expectations of 2,600 barrels per day.
“Our investment in the seven well drilling campaign is consistent with our objective to enhance production from the North Sabah asset and demonstrates that Malaysia is an integral part of our long‐term business strategy,” he said.
He added that the additional process debottlenecking activities are currently underway to reduce the backpressure on these new infill wells.
“This activity is expected to further improve the stabilised production flowrates of the newly drilled wells,” he said.
On March 31, 2018, the group assumed operatorship of the North Sabah PSC as a 50% joint venture working interest partner with Petronas Carigali Sdn Bhd.
The North Sabah PSC consists of four oil fields, namely St Joseph, South Furious, SF30 and Barton located in offshore Sabah, which collectively produces to the Labuan Crude Oil Terminal.
