Home › Business › Business News
Thursday, 21 March 2013
KUALA LUMPUR: Hibiscus Petroleum Bhd is teaming up with Rex Oil & Gas Ltd's affiliate to seek investments in oil and gas (O&G) exploration assets in 11 countries in Asia-Pacific.
It said on Thursday its unit Orient Hibiscus Sdn Bhd and Rex Southeast Asia
Ltd were teaming up to leverage on the use of Rex proprietary technologies in these countries.
These countries are Malaysia, New Zealand, Philippines, Vietnam, Australia, Thailand, Brunei, Papua New Guinea, Indonesia, Myanmar and Cambodia, and offshore areas associated with these countries.
Rex O&G holds a 56.4% stake in Hibiscus Petroleum's jointly-controlled entity, Lime Petroleum Plc.
"Using Rex Technology, Hibiscus Petroleum, through HiRex, will be well positioned to identify, select and secure equity positions in high impact exploration assets in the AsiaPacific region, and thus further enhance its shareholders' value," it said.
Hibiscus: Hydrocarbons not found at well
Hibiscus plans to drill five wells
Hibiscus unit buys stake in O&G well
Hibiscus unit to start drilling exploration well
Hibiscus sees opportunities in volatile oil and gas market
Dixons Carphone in deal with Sprint to open US stores
Prasarana: Ampang LRT line extension project on track
Sidek’s tenure as Petronas chairman extended
Former MAS CEO and EPU D-G join Taliworks
Celebrate Raya in style with GEMFIVE
The 3 unexpected life events that leave us in debt
Trampoline fun abounds
LBU signs MoU to deliver Sarawak highway project
Google apologises photo app tagged black couple ‘gorillas’
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)