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.
“The GUA-P1 side-track project follows the successful drilling of the GUA-P2, which was completed in the third quarter of 2018 and has since contributed to enhanced production in the Anasuria Cluster,” managing director Kenneth Pereira said in a statement.
“GUA-P1 would be funded by internally generated funds and is part of a series of production-enhancement projects targeted to increase net production to 5,000 barrels of oil per day by financial year 2020.
“We are working closely with our partners and service providers to safely deliver the successful execution of the GUA-P1 side-track project,” he added.
The GUA-P1 side-track project is an opportunity to re-enter the existing GUA-P1 wellbore and potentially drain additional volumes of hydrocarbons, the company said in the statement.
It said the Anasuria Cluster consisted of the Teal, Teal South, Guillemot and Cook fields which produce for the Anasuria floating production, storage and offloading vessel.
Hibiscus’ wholly owned subsidiary, Anasuria Hibiscus UK Ltd, holds a 50% joint-operating interest in the Teal, Teal South and Guillemot fields, as well as a 19.3% non-operating interest in the Cook field.