Hibiscus Petroleum Berhad
5199.KL
Malaysian Stock Exchange2.16
MYR
+0.01
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Hibiscus Petroleum Berhad
5199.KL
(Malaysian Stock Exchange)
Recent
price
2.16
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Hibiscus Petroleum Berhad (Hibiscus Petroleum) is Malaysia's first listed independent oil and gas exploration and production company focused on monetizing producing oilfields and growing its portfolio of development and production assets. Incorporated in 2007 and headquartered in Kuala Lumpur, Malaysia, the company operates through segments including Malaysia – North Sabah; Malaysia – Kinabalu and others; Commercial Arrangement Area; United Kingdom; Australia; and Vietnam, with geographic focus encompassing Malaysia, Vietnam, Brunei, Asia Pacific countries, the United Kingdom, and Australia. Its core products and services encompass exploration, development, and sale of crude oil, natural gas, and condensate from key assets such as 50% interest in the North Sabah PSC offshore Sabah; 60% interest in the Kinabalu field offshore Sabah; PM305 and PM314 fields in the Malay Basin; 35% interest in the PM3 CAA field producing gas piped to Malaysia and Vietnam; the Anasuria Cluster of oil and gas fields in the UK Continental Shelf; Marigold West and Sunflower discovered oilfields; Teal West development; VIC/RL17 petroleum license in Australia's Bass Strait; and 70% interest in Vietnam's Block 46 containing the Cai Nuoc producing field and undeveloped Hoa Mai field; alongside project management, technical services, turnaround services for oil and gas production, storage facilities, and installations; and operation of the Labuan Crude Oil Terminal. Recent major developments include the October 2024 completion of the acquisition of TotalEnergies EP (Brunei) B.V.'s 37.5% operated interest in Brunei's Block B MLJ gas and condensate field, boosting gas production share to nearly 50%, adding up to 21.7 million barrels of oil equivalent to 2P reserves, and increasing daily net production by approximately 7,865 boepd; the September 2024 farm-in agreement with PETRONAS Carigali Sdn Bhd for 30% participating interest in the large PM327 PSC offshore Peninsular Malaysia; the July 2024 direct award of interest and operatorship in the PKNB Cluster PSC from PETRONAS; successful Teal West drilling in November 2025 expected to lift 2P reserves; and the January 2022 acquisitions from Repsol Exploración, S.A. of interests in three Malaysian PSCs, the PM3 CAA PSC, and Vietnam's Block 46 PSC. These strategic expansions and production enhancement initiatives, including countermeasures to natural field decline across assets like North Sabah and Kinabalu, underscore Hibiscus Petroleum's commitment to balanced oil-gas portfolio growth, operational efficiencies, and energy transition alignment in stable jurisdictions. The company maintains Shariah-compliant status, FTSE4Good Bursa Malaysia Index inclusion, and listing on Bursa Malaysia's Main Market under ticker 5199.KL.