Hibiscus Petroleum unfazed by production halt at Anasuria FPSO

17 Apr 2019 / 13:15 H.

PETALING JAYA: Hibiscus Petroleum Bhd assured that the temporary production halt at Anasuria floating production storage and offloading (FPSO) is not expected to impact its crude oil offtake schedule or have any material effect on the group for the financial year ending June 30, 2019.

Hibiscus Petroleum was responding to a recent online article published by Upstream Online titled “Petrofac launches appeal against UK prohibition notice” that states a prohibition notice was served against Petrofac Facilities Management, which has been running the FPSO on behalf of Anasuria Operating Company (AOC), a joint venture between Hibiscus Petroleum and Ping Petroleum since 2016.

Hibiscus Petroleum told Bursa Malaysia that its indirect wholly-owned subsidiary Anasuria Hibiscus UK Ltd (AHUK) jointly operates the Anasuria Cluster via AOC with Ping Petroleum UK Ltd.

“In the subsequent to a routine visit by the health and safety executive (HSE) in late February 2019 to FSPO, Petrofac as the duty holder was instructed through the prohibition notice to temporarily halt production pending the mitigation of the risk identified by the inspectors in relation to the asset’s flare tip.”

As a result, it said production was temporarily halted at the facility for six days to mitigate any potential risk.

“Other previously planned maintenance work was also simultaneously undertaken during this period. There were no injuries or loss of containment as a result of this matter.”

Hibiscus Petroleum understands that Petrofac is appealing the issuance of the prohibition notice by the HSE.

“We wish to emphasise that Hibiscus Petroleum, AHUK and Petrofac’s priority is always the safety and welfare of all employees and contractors,” it added.

At the midday break, Hibiscus Petroleum’s share price was down 2 sen or 1.8% to RM1.11 on 23.2 million shares done.

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