Hibiscus Petroleum has announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK Limited has been offered awards of two blocks/part blocks in Tranche 2 of the Licensing Round by the UK North Sea Transition Authority on 31 January 2024.
The Licensing Round offered blocks in mature, producing areas close to existing infrastructure, under flexible terms of the Innovate Licence. This form of licence enables companies like AHUK to define a licence duration and phasing that would result in the execution of an optimal work programme.
The blocks offered for award are located in Quad 15 of the Central North Sea, namely 15/13c – Contains hydrocarbon leads northwest of the Marigold Field. This block is located between AHUK’s block 15/12a (P.2518), and blocks 15/13a and 15/13b (Licence P.198). 15/18c – Contains the Cross prospect. This block is adjacent to AHUK’s block 15/13a containing the Marigold Field.
Based on this latest offer, AHUK has secured a contiguous block in Quad 15 containing stranded oil discoveries, hydrocarbon leads and prospects that will support the commercial viability of the ongoing development planning of Marigold and Sunflower oil fields. The company said it plans to continue to work together with partners and the NSTA to maximise the recovery of these resources in the Quad 15 area.
The next stage of this award process is for AHUK to receive further documentation from the NSTA in order to finalise and execute the Licences for the award of these blocks.
