Malaysia’s Hibiscus To Buy Shell’s 50% Stake In North Sabah Production Contract


Dateline 2017-12-05, Nikkei Asian Review:

Hibiscus Petroleum, a Malaysian petroleum exploration and production firm, said Tuesday it plans to buy Shell’s 50% stake in the 2011 North Sabah enhanced oil recovery production-sharing contract.

The company has secured unconditional consent from the national oil-and-gas company Petronas for the proposed acquisition of the North Sabah contract from the Dutch oil major, Hibiscus said in an exchange filing. The contract provides production rights until 2040, the company said.

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