In a significant step towards modernizing its operations, a Brunei subsidiary of Hibiscus Petroleum has broadened its adoption of artificial intelligence in 2024, selecting GEP’s AI-driven software to digitize and manage its entire source-to-contract procurement pipeline. This strategic expansion is focused on enhancing efficiency within the company’s core upstream oil and gas activities.
The initiative will consolidate sourcing, supplier management, and contract handling onto a single, integrated platform. According to reports, a related contract award is scheduled for announcement on September 29, 2025. This move aligns with the company’s internal structure, which includes dedicated procurement roles across its assets designed to support operational scaling, as detailed in its 2024 organization charts.
This technological upgrade reflects a broader digitalization push within Hibiscus Petroleum. At the 2024 APAC Energy Capital Assembly, company leadership, including VP Ambrose Corray, emphasized the growing role of predictive technologies, digital twins, and AI in transforming energy operations. The GEP software implementation is a tangible application of this forward-looking vision, aimed at driving value and efficiency in its primary business sector, which includes recently awarded production sharing contracts for Malaysian fields.
While this AI procurement platform is geared towards its oil and gas assets, Hibiscus Petroleum is concurrently advancing its energy transition goals. The company is developing a separate solar farm project in Brunei, which is expected to deliver its first power in April 2025. This dual focus is central to the company’s “Hibiscus 3.0” growth strategy, which prioritizes its core business while strategically entering the renewables space. However, sources confirm the AI procurement expansion is not directly tied to its renewable energy ventures.
Sources of Impressive Hibiscus Petroleum AI procurement expands in 2024
- APAC Energy Capital Assembly 2024 Takeaways
- Hibiscus Petroleum 2025 Annual Report
- Hibiscus Petroleum Brunei Solar Farm Project
- Nelson Hall Vendor Analysis: GEP and Hibiscus Petroleum
- Hibiscus Petroleum Annual Report 2019/2020
- GEP AI-Driven Procurement Software News
- Hibiscus Oil & Gas 2024 Organization Chart
- Report on Hibiscus Production Sharing Contracts
