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  • Repsol sells its Exploration and Production assets in Malaysia and in Block 46 CN in Vietnam
    édité le 02/06/2021 - Plus de news de "REPSOL" - Voir la fiche entreprise de "REPSOL"


Repsol sells its Exploration and Production assets in Malaysia and in Block 46 CN in Vietnam
Repsol has agreed to sell its E&P assets in Malaysia and in Block 46 CN in Vietnam to a fully-owned subsidiary of Hibiscus Petroleum, a publicly-traded company based in Kuala Lumpur.

The sale of the company’s upstream assets in Malaysia and in Block 46 CN in Vietnam supports Repsol’s broader rationalization of its global portfolio, streamlining its presence from 25 to 14 core countries within the framework of the multi-energy company's 2021-2025 Strategic Plan that focuses on the geographic areas with the greatest competitive advantages.

The transaction includes a 35% interest in PM3 CAA PSC, 60% in 2012 Kinabalu Oil PSC, 60% in PM305 PSC, 60 % in PM314 PSC, and 70% in Block 46 CN in Vietnam (a tie-back asset to the PM3 CAA production facilities). These assets represent approximately 2% of Repsol’s global current net output.

This transaction follows the sale of the company’s producing assets in Russia, the cessation of oil production activities in Spain and the exit from exploratory activity in other countries.

The funds raised from the transaction as well as the resulting capex savings will contribute to the global strategic goal of funding core projects and new low-carbon initiatives.

The agreement is subject to regulatory approval and the waiver of partners’ preemption rights.

About Repsol

We are a global multi-energy provider that strives to drive the evolution towards a low-emissions energy model. We have over 25,000 employees and boast assets across 34 countries. Moreover, we are a major player in the Spanish electricity and gas market, and we operate low-emissions electricity generation assets in addition to developing a wide range of renewable solar and wind energy projects.

About Hibiscus Petroleum

Hibiscus Petroleum Berhad (Hibiscus Petroleum) is Malaysia’s first listed independent oil and gas exploration and production company. Our key activities are focused on monetising producing oilfields and growing our portfolio of development and production assets in areas of our geographical focus: United Kingdom, Malaysia and Australia.


Origine : Communiqué REPSOL

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