Hibiscus takes on Repsol’s interests offshore Malaysia

Repsol has agreed to sell its E&P interests in Malaysia and in block 46 CN in Vietnam to a subsidiary of Hibiscus Petroleum.


The transaction includes a 35% interest in the PM3 CAA PSC, 60% in the 2012 Kinabalu Oil PSC, 60% in the PM305 PSC, 60% in the PM314 PSC, and 70% in block 46 CN in Vietnam (a tieback to the PM3 CAA production facilities).


Collectively these assets account for around 2% of Repsol’s present global net production.


Source: Offshore Magazine