Oil recovery deal for Malaysia’s Hibiscus


Has Hibiscus Petroleum put job notices out yet?

Dateline 2017-05-31, PNGIndustryNews:

HIBISCUS Petroleum has been given approval to buy a 50% stake in their joint-venture North Sabah enhanced oil recovery, offshore east Malaysia, from Shell.

The Malaysian company is now reviewing the conditions imposed by Petronas, which it has not disclosed.
Petronas is Shell’s partner in the North Sabah production sharing contract, which is one of the biggest enhanced oil recovery developments in the world.
Hibiscus would become the operator of the production sharing contract and under the joint operating agreement if the sale is completed.

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