Hibiscus Petroleum completes two key projects on its Anasuria Cluster of oil and gas fields

Hibiscus Petroleum Berhad, through its wholly owned subsidiary,Anasuria Hibiscus (UK) Limited has recently successfully completed two key projects on its Anasuria Cluster of oil and gas fields situated in the United Kingdom Continental Shelf.

These projects are anticipated to improve short – and medium term – performance of the asset.

On 11 October 2017, the Group disclosed its audited financial statements for the period 1 July 2016 to 30 June 2017 which showed a revenue of RM 261 million and a profit after tax of RM 106 million.

The earlier release of the Group’s financial results for the fourth quarter ended 30 June 2017 showed a fifth consecutive quarter of profitability and improvements in revenue and earnings before interest, tax, depreciation and amortisation. These results have been delivered against a backdrop of challenging sector conditions and realised oil prices (for the Brent crude oil bench mark) that have ranged between US$38 and US$53 per barrel.