Joint venture will take part in oil explorations
Malaysia-based Hibiscus Petroleum Berhad has tied up with Rex International Holding Pte Ltd to participate in exploration opportunities in Cambodia and 10 other countries across the Asia-Pacific region, according to a statement released last Thursday. Hibiscus’s wholly owned subsidiary Orient Hibiscus Sdn Bhd and Rex International Holding subsidiary Rex South East Asia Ltd have formed the 50-50 joint venture HiRex Petroleum Sdn Bhd, which will have the right of first refusal to participate in exploration opportunities across Southeast Asia as well as Australia and New Zealand. … The Edge Malaysia reported in January that Petronas, Malaysia’s national oil and gas firm, was again eyeing the Cambodian oil and gas sector almost three years after withdrawing from the Kingdom. …
