Hibiscus subsidiary signs North Sea oil deals

PETALING JAYA: Hibiscus Petroleum Bhd’s wholly-owned subsidiary, Anasuria Hibiscus UK Ltd (Ahuk), has entered into a deal with Ithaca Oil and Gas Ltd and Caldera Petroleum UK Ltd for the joint development of the Marigold fields in the North Sea.

The parties noted both Marigold fields – Marigold East and Marigold West – will be developed through a unitisation and unit operating agreement (UUOA) as an optimal field development solution.