Hibiscus Petroleum receives waiver of pre-emption rights on Repsol assets, comes closer to concluding US$212.5m acquisition

July 29, 2021

Dateline 2021-07-14, The Edge:

One of the conditions precedent in Hibiscus Petroleum Bhd’s acquisition of upstream oil and gas assets from Spanish oil major Repsol has been fulfilled, which brings the oil explorer one step closer to concluding its acquisition of the latter’s upstream assets in Malaysia and Vietnam.

In a statement, Hibiscus said that it has been informed by Repsol Exploración S.A that the waiver and/or expiry of pre-exemption rights held by Petronas Carigali Sdn Bhd and PetroVietnam Exploration Production Corp under each of the relevant joint operation agreement for the assets had been satisfied.

PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027

June 9, 2016

Still Talisman, I see.

Dateline 2016-05-10, Rigzone

Malaysia’s state-owned Petroliam Nasional Berhad (PETRONAS) and Vietnam Oil and Gas Group (PetroVietnam) announced Monday a 10-year extension of the Production Sharing Contract (PSC) for the PM3 Commercial Arrangement Area (CAA) with Talisman Malaysia Ltd., Talisman Malaysia (PM3) Limited (Talisman), PETRONAS Carigali Sdn. Bhd. (PCSB) and PetroVietnam Exploration Production Corporation Limited (PVEP).

Petrovietnam eyes stake in Murphy Oil’s Malaysian assets

October 30, 2014

Dateline 2014-08-14, Reuters:

Petrovietnam has bid for a stake in Murphy Oil Corp’s Malaysian oil and gas assets, challenging other suitors including Mitsubishi Corp and Indian state oil companies, a person with direct knowledge of the plan said.

The state oil company’s bid comes as Vietnam, the third largest holder of crude oil reserves in Asia, seeks to reverse a steady decline in its oil output over the past decade. Murphy Oil and other U.S. oil companies are reducing overseas holdings as oil and gas exploration prospects improve at home.


From Bernama – PetroVietnam Finds Its First Malaysian Offshore Oil

August 15, 2010

Um, when did PetroViet open an office here? Never mind, I found the news article. Also, please notice the agreement came to light in 2003, and this is … 2010?

Dateline 2010-08-05:

PetroVietnam Exploration Production Corporation (PVEP) has reported the first oil extracted at the D30, Block SK305 field offshore Malaysia, according to Vietnam News Agency (VNA).

The field churns out an average 4,730 barrels of crude oil and 7.83 million cubic metres of gas a day. The accumulated production until July 31 reached 170,340 barrels with 282 million cubic metres of gas, PVEP said.

The SK305 project has been implemented under a common co-operation agreement on oil and gas exploitation and exploration between Vietnam ,Malaysia and Indonesia. Its contract came into effect on June 16, 2003.

PCPP Operating Co is a joint venture between the three state-run companies to operate the project. PVEP, an affiliate of Vietnam’s leading PetroVietnam group, holds 30 percent; Petronas Carigali Sdn Bhd, a member of …