Hibiscus Petroleum to acquire the Brunei subsidiary from TotalEnergies for $259m.

Hibiscus Petroleum, an independent oil and gas exploration and production company, agreed to acquire the Brunei subsidiary from TotalEnergies, a global integrated energy company, for $259m. “This transaction fits with our strategy to actively manage our portfolio by monetizing mature assets and to allocate our talents to the most promising assets,” Jean-Pierre Sbraire, TotalEnergies CFO.