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December 8, 2021updated 27 Apr 2022 11:58am

North Sabah Conventional Oil Field, Malaysia

By Carmen

North Sabah is a producing conventional oil field located in shallow water in Malaysia and is operated by Hibiscus Petroleum. The field is located in block North Sabah, with water depth of 148 feet.

Field participation details

The field is owned by Petroliam Nasional and Hibiscus Petroleum.


Production from North Sabah

The North Sabah conventional oil field recovered 93.31% of its total recoverable reserves, with peak production in 2003. The peak production was approximately 57.63 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2031. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 34.55 Mmboe, comprised of 34.55 Mmbbl of crude oil & condensate. North Sabah conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.


About Hibiscus Petroleum

Hibiscus Petroleum Bhd (Hibiscus Petroleum) is an exploration and development of oil and gas. The company provides activities such as investment holding and the provision of project management; and technical and other services relating to the oil and gas exploration and production industry. The Company’s primary segments include Investment holding and group activities, which includes investment in companies owning/operating oil and gas concessions. It operates its business through Lime, 3D Oil, VIC and L31, VIC and P57, Anasuria and HIREX, among others. Hibiscus Petroleum also has oil exploration operations in Norway and the Middle East. The company operates in the UK, Australia and Malaysia. Hibiscus Petroleum is headquartered in Kuala Lumpur, Malaysia.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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