Hibiscus Petroleum has successfully completed the acquisition of the entire equity interest in Fortuna International Petroleum Corporation. The high-quality asset portfolio comprises interests and operatorship in five production sharing contracts in Malaysia and Vietnam.
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KUALA LUMPUR (Reuters) - Malaysian oil and gas exploration and production company Hibiscus Petroleum Bhd has acquired Spanish energy major Repsol Exploración, S.A. s upstream assets in Malaysia and Vietnam for a cash consideration of $212.5 million, it said in a stock exchange filing on Friday.
The acquisition comprises five production-sharing contracts, one of which is in Vietnam, a new market for Hibiscus. It already has producing assets in the UK and Malaysia, and assets in Australia at a development stage, according to its website.
Hibiscus unit Peninsula Hibiscus Sdn Bhd entered a conditional sale and purchase agreement on Tuesday for the entire equity interest in Fortuna International Petroleum Corporation.