TotalEnergies acquires blocks in Malaysia and Indonesia
TotalEnergies has acquired interests in several offshore blocks in Malaysia and one block in Indonesia from Petronas.
The licences span more than 100,000km² and are in various stages of development.
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Under the agreement, TotalEnergies will operate a 50% interest in Blocks SK301b and SK313 in in Malaysia alongside Petronas Carigali, a subsidiary of Petronas.
The blocks contain estimated gas reserves exceeding four trillion cubic feet, with development aimed at contributing to Malaysia’s liquefied natural gas (LNG) exports from 2030.
In addition to the operated blocks, TotalEnergies will also hold interests in several exploration blocks offshore Malaysia.
The completion of this transaction is pending customary conditions including regulatory approvals.
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By GlobalDataThis development follows the acquisition of SapuraOMV in December 2024 and reinforces TotalEnergies’ position in South East Asia, with Malaysia serving as a strategic hub in partnership with Petronas.
A strategic cooperation agreement has been signed by Patrick Pouyanné, chairman and CEO of TotalEnergies, and Tan Sri Tengku Muhammad Taufik, president and Group CEO of Petronas, to further bolster their collaboration in exploration and production businesses globally.
Pouyanné said: “TotalEnergies has established itself as a significant gas producer in Malaysia. We are pleased to further expand our presence in the country, which we see as a strategic platform for our future low-cost, low-carbon production and cash flow growth, underpinned by the exposure to Asian LNG market.
“TotalEnergies and Petronas’ strategic collaboration, which extends well beyond Malaysia through our multiple joint ventures worldwide, enables us to access a large and diverse portfolio in the country, spanning from exploration to production.”
TotalEnergies has entered into an agreement to acquire a 24.5% interest in the Bobara block offshore Indonesia from Petronas.
Taufik added: “For a long time, Petronas and TotalEnergies have demonstrated how complementary strengths can unlock new opportunities. Today’s signing marks another significant step forward in our shared commitment to responsible growth and long-term value creation.
“Together, we will pursue and develop advantaged barrels across Malaysia’s and Indonesia’s frontier emerging exploration blocks. Our focus is on maximising high commercial potential while delivering sustainable value for all stakeholders.”
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