Hibiscus Petroleum Berhad is a Malaysian oil and gas exploration and production company that was founded in 2007. The company is listed on the Main Market of Bursa Malaysia Securities Berhad and has operations in Malaysia, the United Kingdom, and Australia. Hibiscus Petroleum Berhad is committed to sustainable and responsible operations and is actively pursuing decarbonisation initiatives.

Exploration & Production Sector:

Hibiscus Petroleum Berhad is primarily engaged in the exploration and production of oil and gas. The company's operations are focused on developing and producing oil and gas reserves in the UK and Malaysia. Hibiscus Petroleum Berhad has a diverse portfolio of assets that includes both onshore and offshore fields.

The company's flagship asset is the Anasuria Cluster in the UK North Sea, which consists of five producing fields. The Anasuria Cluster has a production capacity of approximately 15,000 barrels of oil equivalent per day. In Malaysia, Hibiscus Petroleum Berhad has a 50% interest in the North Sabah Enhanced Oil Recovery Production Sharing Contract, which has a production capacity of approximately 6,000 barrels of oil per day.

Decarbonisation:

Hibiscus Petroleum Berhad is committed to reducing its carbon footprint and is actively pursuing decarbonisation initiatives. The company recognizes the importance of transitioning to a low-carbon economy and is taking steps to reduce its greenhouse gas emissions.

One of the key decarbonisation initiatives that Hibiscus Petroleum Berhad is pursuing is the development of renewable energy projects. The company has identified renewable energy as a growth area and is exploring opportunities to invest in renewable energy projects in Malaysia and other countries.

Corporate Energy:

Hibiscus Petroleum Berhad is committed to responsible energy management and is focused on reducing its energy consumption and improving energy efficiency. The company has implemented a number of initiatives to reduce its energy consumption, including the installation of energy-efficient lighting and the optimization of its production processes.

Hibiscus Petroleum Berhad is also exploring the use of corporate power purchase agreements (PPAs) to source renewable energy. A corporate PPA is a long-term contract between a company and a renewable energy developer that allows the company to purchase renewable energy at a fixed price. By entering into a corporate PPA, Hibiscus Petroleum Berhad can reduce its carbon footprint and support the development of renewable energy projects.

Renewable Energy:

Hibiscus Petroleum Berhad recognizes the importance of renewable energy and is actively pursuing opportunities to invest in renewable energy projects. The company has identified renewable energy as a growth area and is exploring opportunities to invest in renewable energy projects in Malaysia and other countries.

One of the key renewable energy projects that Hibiscus Petroleum Berhad is pursuing is the development of a solar power plant in Malaysia. The company has partnered with a local renewable energy developer to develop a 50 MW solar power plant in the state of Melaka. The project is expected to generate approximately 80,000 MWh of electricity per year and will help to reduce Malaysia's carbon footprint.

In addition to the solar power plant, Hibiscus Petroleum Berhad is also exploring opportunities to invest in wind and hydroelectric power projects. The company recognizes the potential of renewable energy to reduce greenhouse gas emissions and is committed to supporting the development of renewable energy projects.

Conclusion:

Hibiscus Petroleum Berhad is a Malaysian oil and gas exploration and production company that is committed to sustainable and responsible operations. The company is actively pursuing decarbonisation initiatives and is focused on reducing its carbon footprint. Hibiscus Petroleum Berhad recognizes the importance of renewable energy and is investing in renewable energy projects to support the transition to a low-carbon economy. The company's commitment to sustainability and responsible operations makes it a leader in the exploration and production sector.