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Hibiscus completes acquisition of Shell interest in North Sabah PSC


KUALA LUMPUR: Hibiscus Petroleum Bhd has completed its acquisition of 50% participating interest in the 2011 North Sabah Enhanced Oil Recovery Production Sharing Contract (PSC) and the joint operating agreement (JOA) in relation to the PSC. 

Following the US$25mil acquisition, Hibiscus' unit SEA HIbiscus Sdn Bhd assumed the role of operator of the North Sabah PSC.

Corporate News , Oil & Gas

   

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