Hibiscus Petroleum unit awarded concession in Egypt

KUALA LUMPUR: Hibiscus Petroleum Bhd’s wholly-owned unit, Gulf Hibiscus Ltd, has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi Petroleum Holding Co, an entity of Egypt’s Ministry of Petroleum.

In a filing with Bursa Malaysia yesterday, Hibiscus Petroleum said the acceptance of the concession provided the company an opportunity to explore and develop in an area which was one of the oldest producing basins in the world.