Shell Malaysia asset sale agreed
Malaysia 
KUALA LUMPUR, December 26, 2017 – Hibiscus Petroleum has struck a deal to buy Shell’s 50% stake in the North Sabah Enhanced Oil Recovery project, the Malaysian player announced on Tuesday.
The deal, valued at roughly USD 25 million, has been in the works since October 2016, and received a key approval by Petronas, which holds the remaining 50%, in late May.
“[B]arring any unforeseen circumstances, the board of directors of Hibiscus Petroleum expects the proposed acquisition to be completed on March 31, 2018,” the company statement added.
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