PVEP, Hibiscus in provisional agreement on Vietnam-Malaysia PSC offshore tieback


Dateline 2025-08-26, Offshore:

Hibiscus Oil & Gas Malaysia has signed a heads of agreement (HoA) with PetroVietnam Exploration Production Corp .(PVEP), the company reported in an Aug. 22 press release.

The agreement covers the proposed connection of production from PVEP’s Block 46/13 production sharing contract (PSC) offshore Vietnam to existing facilities in the Hibiscus-operated PM3 Commercial Arrangement Area (CAA) PSC offshore Peninsular Malaysia. PVEP, along with Petronas, is also a partner in the PM3 concession.

The HoA outlines terms for the tie-in engineering and construction program as well as product handling arrangements, which would allow Block 46/13 production to be processed at the Hibiscus-operated facilities. Terms include a commercial framework concerning production handling and cost allocation for Block 46/13. 

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