Hibiscus Oil & Gas Malaysia Has Explored New Oil Reserves Offshore Malaysia
Hibiscus Oil & Gas Malaysia (a subsidiary of Hibiscus Petroleum Berhad) has successfully completed the drilling of the Bunga Aster-1 exploration well on the Malaysian continental shelf. This was reported by the press service of Hibiscus Petroleum.
Well Bunga Aster-1
- found: oil sandstone deposits in the interval of about 17.5 m; oil deposits in the interval up to 46 m;
- several oil samples were taken during logging;
- initial assessments indicate good reservoir quality.
The company notes that this is the second significant discovery made within 12 months of the opening of Bunga Lavatera in 2023. The decision to drill from Bunga’s existing Orkid-D offshore platform allowed the discovery to be quickly monetized. First oil production is expected to begin in May 2024.
The company plans to evaluate Bunga Aster-1 to determine the size of the discovery. It also announces plans to continue exploration activities over the next 3 years under the leadership of Malaysia Petroleum Management, paying close attention to other promising fields in the PSC PM3 CAA area.
