Hibiscus Petroleum subsidiary Simpor Hibiscus has completed its acquisition of TotalEnergies EP (Brunei).
It now has a 37.5% operated interest in the gas producing Block B Maharajalela Jamalulalam field offshore Brunei Darussalam. The partners are Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%).
The concession currently runs through November 2029, with options to extend beyond this period, subject to agreement with the partners.
Dr. Kenneth Gerard Pereira, Hibiscus managing director, said the acquisition “provides a better balance to our asset portfolio as the world transitions to a lower carbon energy mix with higher global demand for natural gas."
In June, when the companies first entered the acquisition agreement, TotalEnergies said it was selling its wholly owned subsidiary for a consideration of $259 million.
