Hibiscus Petroleum buys stake in North Sea blocks

Hibiscus Petroleum Bhd managing director Dr Kenneth Pereira

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