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Hibiscus Petroleum buying 50% stake in North Sea blocks for RM156m


Hibiscus Petroleum MD Kenneth Pereira: "The blocks are located in an area that is close to other discoveries and existing infrastructure."

Hibiscus Petroleum MD Kenneth Pereira: "The blocks are located in an area that is close to other discoveries and existing infrastructure."

KUALA LUMPUR: Hibiscus Petroleum Bhd is buying a 50% stake in two oil and gas blocks in the North Sea for US$37.5mil (RM156mil) from Caldera Petroleum (UK) Ltd.

It said on Tuesday its unit, Anasuria Hibiscus UK Ltd had inked a conditional sale and purchase agreement with Caldera to buy a 50% stake in in Block 15/13a and Block 15/13b.

Corporate News , Oil & Gas

   

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