Hibiscus Petroleum Berhad (Malaysia)

Hibiscus Petroleum Berhad is an independent oil and gas exploration and production company based in Kuala Lumpur, Malaysia. It was incorporated in Malaysia and is the country's first listed independent oil and gas company. The company's main activities involve monetizing producing oilfields and expanding its portfolio of development and producing assets in the United Kingdom, Malaysia, Australia, and Vietnam. Hibiscus Petroleum focuses on enhancing the value of its offshore oil and gas assets while prioritizing safety and environmental management. The company aims to deliver sustainable returns to its shareholders by leveraging opportunities within its existing asset portfolio and making selective quality acquisitions. Headquartered in Kuala Lumpur, Hibiscus Petroleum's securities are listed on the Main Market of Bursa Malaysia Securities Berhad. The company is also included in the FTSE4Good Bursa Malaysia Index and the FTSE4Good Bursa Malaysia Shariah Index. Its securities have been classified as Shariah-compliant by the Shariah Advisory Council of the Securities Commission of Malaysia. One of Hibiscus Petroleum's key assets is the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (North Sabah PSC) in Malaysia. Since becoming the operator of the North Sabah PSC in 2018, the company has successfully executed production enhancement projects, leading to a significant increase in oil production capacity. Hibiscus Petroleum plans to continue these efforts to counter natural field declines and maximize the value of its assets. In January 2022, the company completed the acquisition of interests in three Malaysian Production Sharing Contracts (PSCs) from Repsol, including the 2012 Kinabalu Oil PSC. Crude oil from the North Sabah PSC and Kinabalu Oil PSC is transported to the Labuan Crude Oil Terminal, which is operated by SEA Hibiscus, a subsidiary of Hibiscus Petroleum.