Offshore staff
KUALA LUMPUR, Malaysia – Hibiscus Petroleum’s UK subsidiary has replaced a malfunctioning riser that had affected operational performance from the Anasuria Cluster fields in the UK central North Sea.
Following the initial malfunction in May 2021, the production riser, which transports produced crude oil from the subsea well to the Anasuria FPSO, was temporarily isolated from the primary production system. This reduced overall daily production from the cluster.
However, the new system entered service in September of this year.
In Hibiscus’s latest results review, Petroleum managing director Dr. Kenneth Pereira commented on the UK government’s decision late last week to increase the windfall tax on profits of North Sea oil and gas producers.
“It should be noted,” he said, “that whilst the energy profit levy is being increased, corresponding investment incentives are concurrently being offered…and it is thus our intention to phase our capex plans to optimize value from these incentives.
“We believe that by doing so, the impact from the tax increases will be minimized and our UKCS growth strategy can progress, albeit cautiously. It is also clear that decarbonization initiatives within the UK oil and gas sector have been incentivized, and this will encourage us to identify further opportunities that will reduce our UKCS carbon footprint.”
Overall, he added the net effect of the higher taxes should not be material to Hibiscus “and we have a positive outlook for our sector.”
11.22.2022
