Repsol to sell oil and gas assets in Malaysia and Vietnam

Spain-based Repsol S.A, an oil company, has agreed to sell its oil and gas exploration and production interests in Malaysia and Vietnam’s Block 46 CN to Malaysia-based Hibiscus Petroleum for an undisclosed sum. The sale its assets is in line with Repsol’s plan to reduce its operations from 25 to 14 core countries.

The deal includes a 60 per cent stake in 2012 Kinabalu Oil production sharing contracts (PSC), a 60 per cent stake in PM305 PSC, a 60 per cent stake in PM314 PSC, 35 per cent stake in PM3 CAA PSC, and a 70 per cent stake in Vietnam’s Block 46 CN. These assets account for about 2 per cent of Repsol’s current net global output.