Hibiscus Petroleum has a unique status in Malaysia as the country’s first publicly-listed exploration and production company, and is evolving into an ambitious and capable production operator.
Its short history since listing in 2011 as a Special Purpose Acquisition Company (SPAC) has been eventful, and conspicuous by the high number of asset transactions in which Hibiscus has participated.
Some did not work out, such as its proposed acquisitions of Hydra Energy and an interest in the Kitan oilfield, while its foundation project — an exploration venture in the United Arab Emirates and Oman with Lime Petroleum — is under legal dispute.
