Managing director Kenneth Pereira
Malaysian indie Hibiscus eyes regional growth
The company’s expansion will not end with its recent acquisition of Repsol assets in Southeast Asia, says managing director Kenneth Pereira
Southeast Asia has traditionally been the preserve of NOCs and IOCs. Powerful state companies such as Malaysia’s Petronas, Indonesia’s Pertamina and Thailand’s PTT dominated domestic hydrocarbon sectors, often in lockstep with their international partners. But, as in other parts of the world, that is changing with the entry of entrepreneurial outfits that are emerging to fill a gap left by departing IOCs. Hibiscus Petroleum, a Malaysian E&P company that also operates in the UK North Sea, is one such company. It acquired the Malaysian and Vietnamese upstream assets of Spain’s Repsol in early June, paying $212.5mn for a 35pc interest in the PM3 CAA production-sharing contract (PSC) and 60
Also in this section
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030
