KUALA LUMPUR, Malaysia – Hibiscus Petroleum subsidiary Peninsula Hibiscus has acquired Fortuna International Petroleum Corp. from Repsol.
Fortuna has interests/operatorships in five production-sharing contracts offshore Malaysia and Vietnam.
These are PM314 (60%) and PM305 (60%) in the Southwest Malay basin, offshore Peninsular Malaysia; 2012 Kinabalu Oil 60% Sabah, offshore Malaysia; PM3 CAA 35% in the northeast Malay basin, within the CAA between Malaysia and Vietnam; and block 46 70% in the same basin in Vietnamese waters.
Hibiscus expects the transaction to almost triple its daily oil and gas production.
