Hibiscus Petroleum Bhd MD Dr Kenneth Gerard Pereira(filepic) said the benchmark Brent crude oil, currently trading at US$63 per barrel, was a strong indication of underlying demand due to growing world population.
PETALING JAYA: Hibiscus Petroleum Bhd
’s joint-venture company, Anasuria Operating Co Ltd, is expected to start drilling at the Guillemot A GUA-P1 side-track well by the first half of this year.
Hibiscus said the project, located at the Anasuria Cluster concession offshore in the UK’s North Sea, is targeted to unlock about 1.7 million barrels of oil from its current net 2P (proven and probable) oil reserves.
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