KUALA LUMPUR: Hibiscus Petroleum Bhd
’s indirect wholly-owned subsidiaries, Hibiscus Oil & Gas Malaysia Limited (HML) and Hibiscus Oil & Gas Malaysia (PM3) Limited (HML PM3), have signed a key principles agreement with Petroliam Nasional Bhd (PETRONAS) through Malaysia Petroleum Management, as well as with Vietnam Oil and Gas Group.
In a statement, Hibiscus Petroleum said the agreement was for the continuation of the PM3 commercial arrangement area production sharing contract (PM3 CAA PSC) and upstream gas sales agreement (UGSA).
