Malaysia's Hibiscus Petroleum to buy TotalEnergies Brunei for $259 million

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Hibiscus Petroleum will acquire the Brunei unit of French oil and gas major TotalEnergies for $259.4 million, the Malaysian oil and gas explorer said on Friday, marking its entry into the energy-rich region.

"While bringing us closer towards achieving our 2026 mission of growing the Group's net production to 35,000 boe - 50,000 boe per day".

The asset has production rights of up to 15 years until 2039.

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Category: EconomyBusiness

Markets: SingaporeBruneiFranceMalaysia

Topics: Malaysian Asset 2024 Deal Production Rights Totalenergies February Hibiscus Brunei Petroleum

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-14 @ 12:00:45 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 299 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21250437

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