Hibiscus strikes first oil in North Sabah PSC


  • Business
  • Wednesday, 24 Jul 2019

“Two more oil production wells are currently being drilled at St Joseph oil field, which will be followed by three new oil production wells and one water injection well in the SF30 oil field,” the oil and gas group said

KUALA LUMPUR: Hibiscus Petroleum Bhd said it has struck first oil in North Sabah.

The company, in a filing with Bursa Malaysia today, said wholly owned SEA Hibiscus Sdn Bhd on July 16 had safely and successfully drilled and completed the SJ105A well at the St Joseph oilfield.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Oil inches up, but uncertainty over sanctions impact caps gains
Higher wages, minimum wage hike drive property demand, affordability this year
China's cross-border trade, investment more vibrant
Titijaya sees growing demand for transit-oriented development, affordable homes in 2025
Survey: Directors keen to harness AI, ESG, diversity benefits but face implementation challenges
Fajarbaru now called 'FBG'
EPF's investment in MAHB to support dividend payouts
MAHB: Five independent directors not terminated
EX-Tabung Haji CEO Nik Hasyudeen Yusoff appointed SC board member
SD Guthrie appoints new sustainability committee chairman

Others Also Read