Hibiscus Petroleum (KLSE:HIBISCS) unit Simpor Hibiscus completed the acquisition of TotalEnergies EP (Brunei), according to a Monday Malaysian bourse filing.
Following deal completion, the company now owns a 37.5% interest in a gas producing asset in Brunei Darussalam. Its joint venture partners include Shell Deepwater Borneo with a 35% interest, and Brunei Energy Exploration, which holds the remaining 27.5%.
The concession tenure is up to November 2029, with the rights to extend.
Shares fell about 4% recently.
Price (MYR): $2.15, Change: $-0.090, Percent Change: -4.02%
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