KUALA LUMPUR: Hibiscus Petroleum Bhd has entered into a novation agreement for the acquisition of a 50% participating interest in North Sabah from Sabah Shell Petroleum Co Ltd and Shell Sabah Selatan Sdn Bhd.
In a filing with Bursa Malaysia, Hibiscus said Petronas’ conditions have been clarified and agreed between the sellers, Petronas and its indirect wholly-owned subsidiary, SEA Hibiscus Sdn Bhd.
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