TotalEnergies expands in Malaysia through acquisitions from Petronas

It acquired multiple offshore blocks from the Malaysian company.

TotalEnergies has expanded its presence in Malaysia with the acquisition of interests in multiple offshore blocks from Petronas.

In a statement, TotalEnergies said it will hold a 50% operated working interest in Blocks SK301b and SK313. This will be alongside Petronas through its wholly-owned subsidiary Petronas Carigali Sdn Bhd.

The company said there have been significant gas discoveries in the blocks. These are expected to be developed to support gas supply to Malaysia from 2030.

TotalEnergies will also hold interests in several exploration blocks offshore Malaysia.

Beyond Malaysia, TotalEnergies has signed an agreement to acquire a 24.5% interest from PETRONAS in the Bobara block offshore Indonesia.

After completion, the French company will hold 24.5% working interest in the Production Sharing Contract, whilst Petronas will retain the remainder.