GUA‐P2 Side‐Track Well in Anasuria Successfully Completed with Enhanced Production Expected
Wednesday 5 September 2018
Hibiscus Petroleum Berhad (HIBI:MK) (“Hibiscus Petroleum”, or the “Group”) is pleased to announce that the GUA‐P2 side‐track (“P2‐ST”) well, located in the Guillemot A field of the Anasuria Cluster in the United Kingdom Central North Sea (“UKCNS”) and targeting untapped volumes of oil in the Forties reservoir, has been drilled and completed using the West Phoenix semi submersible drilling rig. During the clean‐up and flowback phase of the P2‐ST programme, the well achieved a stabilised gross production flow rate to the Anasuria FPSO of 4,750 barrels of oil per day (2,375 barrels of oil per day, net to the Group). The flow rate was established during a 20‐hour flow period through a 32% choke and with the application of gas lift at a rate of 1.7 million standard cubic feet a day.
The project to re‐enter the GUA‐P2 well and side‐track commenced in early June 2018 and was executed by the Anasuria Operating Company Limited (“AOC”), the operator of the Anasuria Cluster of oil and gas fields. AOC is equally owned by Anasuria Hibiscus UK Limited and Ping Petroleum UK Limited. The P2‐ST is currently shut‐in to allow the drilling rig to demobilise from its location before production commences once again in early September 2018.
The Anasuria Cluster consists of the Teal, Teal South, Guillemot and Cook fields which produce to the Anasuria Floating, Production, Storage and Offloading facility (“Anasuria FPSO”). The Anasuria Cluster is located offshore in the United Kingdom sector of North Sea. The Group’s indirect wholly‐owned subsidiary Anasuria Hibiscus UK Limited holds 50% joint‐operating interests in the P013 licence consisting of the Teal, Teal South and Guillemot A fields, as well as 19.3% non‐operating interest in the P185 licence consisting of the Cook field.