Skrine is pleased to share that we have advised Spanish energy company Repsol on the Malaysian law aspects of the sale of its operated assets in Malaysia and in Block 46 CN in Vietnam to Hibiscus Petroleum Berhad in a deal valued at USD212.5 million. The transaction supports the broader rationalisation of Repsol’s global portfolio, within the framework of its 2021-2025 Strategic Plan. The transaction includes a 35% interest in PM3 Commercial Arrangement Area PSC, 60% in 2012 Kinabalu Oil PSC, 60% in PM305 PSC, 60% in PM314 PSC, and 70% in Block 46 CN in Vietnam (a tie-back asset to the PM3 CAA production facilities). These assets represent approximately 2% of Repsol’s global current net output.
 

The Skrine deal team was led by Oil & Gas Partner Fariz Abdul Aziz, who was assisted by Senior Associates Karyn Khor and Tan Wei Xian together with Associate Jeralyn Kan. The Skrine deal team was supported by Employment Law Partner Selvamalar Alagaratnam who advised on the employment law aspects of the transaction.