September 2, 2019
Dateline 2019-07-14, Borneo Post:
Sabah Shell Petroleum Company Ltd (SSPC) will continue to grow its business and invest in exploration in Sabah, says its general manager Prithipal Singh.
Shell operates two deepwater assets in the state, namely Gumusut-Kakap and Malikai, which were commissioned in 2014 and 2016, respectively.
Prithipal said both Gumusut-Kakap and Malikai produced at least one-third of the oil production in Malaysia.
“We see there are opportunities for growth in Sabah.
November 25, 2016
And that settles my thoughts as to when Hibiscus was going to spend its money, and who would want to buy the Shell Sabah blocks.
Dateline 2016-10-12, The Star:
Shell has reached an agreement to sell its 50% equity interest in the 2011 North Sabah enhanced oil recovery (EOR) production sharing contract (PSC) to Hibiscus Petroleum Bhd’s indirect unit SEA Hibiscus Sdn Bhd for US$25mil (RM104.8mil).
The amount excludes post completion adjustments and reimbursements to Shell.
Currently, Sabah Shell Petroleum Co (25%) is the operator, partnering with Shell Sabah Selatan (25%) and Petronas Carigali Sdn Bhd (50%) in the PSC, which includes the Labuan Crude Oil Terminal, and the fields of St Joseph, South Furious, SF30 and Barton, all located offshore Sabah.
Total oil production (on a 100% PSC basis) averaged 18 kilobarrels (kbbls) per day last year, according to statements from Shell and Hibiscus.