Totalenergies Expands Southeast Asia Portfolio Through New Agreements With PETRONAS

2025-06-16 07:06:40

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 16. TotalEnergies has announced the acquisition of interests in several offshore blocks in Malaysia and Indonesia from PETRONAS, expanding its upstream portfolio in Southeast Asia, Trend reports.

The announcement was made during the Energy Asia 2025 event in Kuala Lumpur.

The agreement includes a 50% operated working interest in Malaysia's SK301b and SK313 blocks, where significant gas discoveries of more than 4 trillion cubic feet have been made. These discoveries are expected to support gas supply to Malaysia LNG starting in 2030. TotalEnergies also acquired interests in several other exploration blocks offshore Malaysia, in partnership with PETRONAS subsidiary Petronas Carigali Sdn Bhd.

In Indonesia, TotalEnergies has signed an agreement to acquire a 24.5% interest in the Bobara block, located offshore, where oil exploration activities are planned. PETRONAS will remain operator and retain the remaining interest in the block.

The transaction remains subject to regulatory approvals.

Following its acquisition of SapuraOMV in December 2024, TotalEnergies continues to strengthen its position in the region, identifying Malaysia as a strategic platform for low-cost and low-carbon production.

TotalEnergies Chairman and CEO Patrick Pouyanné and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik also signed a strategic cooperation agreement to expand their global collaboration in exploration and production.

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