Hibiscus Enters into 2nd Round Bidding for Newfield's Asia Assets

Malaysia's Hibiscus Petroleum Bhd has been shortlisted for the second round of Newfield Exploration Co.’s oil and gas assets in Malaysia and China, with the remaining candidates expected to submit their bids to the United States oil firm's advisor Goldman, Sachs & Co. by September 26, according to local media reports.

Goldman Sachs was reported earlier to have shortlisted Exxon Mobil Corp., Royal Dutch Sehll plc., Talisman Energy Inc. and Kuwait Foreign Petroleum Exploration Company to submit second round bids for Newfield's upstream assets in Malaysia and China.

"We are one of 60 players who will bid for Newfield and it is competitive," Hibiscus' Managing Director Kenneth Pereira told the Business Times, adding that it was not the only Malaysian company to make the cut for the second round of bidding.

Another local firm SapuraKencana Petroleum Bhd has earlier expressed interest in acquiring the Newfield's assets.

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