Malaysian oil and gas company Hibiscus Petroleum, through its UK North Sea subsidiary Anasuria Hibiscus UK, has partnered with Ithaca Energy and Caldera to develop the Marigold field, situated approximately 250 km northeast of Aberdeen in the central North Sea.

Anasuria Hibiscus UK holds an 87.5% interest in Licence P198 Block 15/13a, which includes the Marigold West field, with Caldera holding the remaining 12.5%. Ithaca Energy holds a 100% interest in Licence P2158 Block 15/18b, adjacent to the Marigold West field and containing the Marigold East field.

Under the unitization and unit operating agreement, the participating interests in the unitized Marigold field, including Marigold West and Marigold East, are allocated as follows: Anasuria Hibiscus - 61.25%, Caldera - 8.75%, and Ithaca - 30.00%.

The unitization of Marigold West and Marigold East aims to facilitate the implementation of an optimal field development solution. An integrated project team led by Anasuria Hibiscus UK will develop the Marigold Field Development Plan (FDP), with the FDP submission targeted for early calendar year 2024.

The Sunflower field, part of Licence P198, will be developed by Anasuria Hibiscus UK and Caldera as a subsea tie-in to the Marigold Project infrastructure. The FDP for Sunflower will be submitted separately and is not covered by the unit operating agreement.

Anasuria Hibiscus UK operates the Sunflower field with an 87.5% interest, while Caldera holds the remaining 12.5% interest.

This collaboration is expected to contribute to the efficient development of the Marigold field and enhance the overall operational capabilities of the participating companies in the North Sea region.