Hibiscus said in a filing with Bursa Malaysia that the remaining participating interest is held by Petronas Carigali Sdn Bhd.

“The effective date of the production sharing contract is July 1, 2024, with a contract duration of 24 years,” it said.

“The production sharing contract comprises four discovered resource opportunities (DRO) in the Pertang, Kenarong, Noring and Bedong fields, located in shallow waters between 65 and 75 metres depth offshore the east coast of Peninsular Malaysia,” it said.

It said the cluster is located to the south, and within the PM3 commercial arrangement area operated by HML.

Country head of Malaysia and Vietnam Pascal Hos said the award of the production sharing contract provides HML with an opportunity to maximise the use of the readily available gas network and continue to meet Peninsular Malaysia’s growing gas demand.