Low oil prices, but Hibiscus Petroleum buys up oil fields
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Kuala Lumpur-listed Hibiscus Petroleum, undaunted by low oil prices, has completed the acquisition of its first oil-and-gas fields in the UK North Sea.
Malaysia's first listed oil-and-gas independent has also set targets for the next 18 months - to develop 50 million barrels of proven and probable (2P) reserves on its now expanded portfolio, and to add another 50 million barrels of contingent resources through further acquisitions of oil-and-gas fields.
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