TotalEnergies adds to position offshore Malaysia through expanded Petronas partnership

TotalEnergies has acquired from Petronas interests in certain blocks offshore Malaysia and in one block offshore Indonesia, where exploration, appraisal and development programs will be progressed.

The licenses, which are all in different maturation stages, cover more than 100,000 sq km, TotalEnergies said in a release June 16. Neither party disclosed a deal value.  

Malaysia

In Malaysia, TotalEnergies will hold, alongside Petronas through its subsidiary Petronas Carigali Sdn Bhd, a 50% operated working interest in Blocks SK301b and SK313, where gas discoveries of more than 4 tcf were made and are expected to be developed to support gas supply to Malaysia LNG from 2030.

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

Petronas, in a separate release June 16, said the agreement spans Malaysia’s “most prospective hydrocarbon basins,” and that the partnership “combines Petronas’ exploration and operational expertise with TotalEnergies' technical capabilities to optimize exploration efficiency and sustainably develop Malaysia's hydrocarbon resources.”

The deal, which builds on TotalEnergies position in southeast Asia following its acquisition of SapuraOMV’s in 2024, is subject to customary conditions, including regulatory approvals (OGJ Online, Jan. 31, 2024). 

Indonesia

Also included in the partnership is an agreement signed by TotalEnergies to acquire a 24.5% interest from Petronas subsidiary Petronas Energy Bobara Sdn Bhd in the Bobara frontier ultra-deepwater block offshore eastern Indonesia. The aim is to carry out an exploration program targeting oil prospects, TotalEnergies said.

After completion of the deal, TotalEnergies will hold 24.5% working interest in the production sharing contract while Petronas will retain the remainder of the working interest and operatorship in the block.