Hibiscus Petroleum sets 2030 output target at 70,000 boe/day

Hibiscus Petroleum managing director Dr Kenneth Gerard Pereira.

KUALA LUMPUR: Hibiscus Petroleum Bhd is targeting production of 70,000 barrels of oil equivalent per day (boe/day) and 2P reserves of 150 million barrels of oil equivalent (MMboe) by 2030.

In a filing with Bursa Malaysia, the company said the "2030 Mission” marks a new phase in its evolution, dubbed ‘Hibiscus 3.0’, which includes plans to diversify into energy transition projects as part of its strategy to be a responsible energy company.