Repsol Sells E&P Assets in Malaysia, Vietnam to Hibiscus Petroleum


Dateline 2021-06-01, Offshore Engineer:

Spanish oil company Repsol is set to sell its oil and gas exploration and production assets in Malaysia and in Block 46 CN in Vietnam to Malaysia-based Hibiscus Petroleum for an undisclosed fee.

Repsol said that the sale of its upstream assets in Malaysia and in Block 46 CN in Vietnam supported its plan to reduce its presence from 25 to 14 core countries.

Repsol said it was concentrating its upstream activity on 14 key projects centered around producing basins and executed through lean modular development, prioritizing value over volume.

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