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KUALA LUMPUR - TotalEnergies (NYSE:TTE) has acquired interests in multiple offshore blocks in Malaysia and one in Indonesia from PETRONAS, the companies announced Monday at Energy Asia 2025 in Kuala Lumpur.
The French energy company will hold a 50% operated working interest alongside PETRONAS in Blocks SK301b and SK313, where gas discoveries exceeding 4 trillion cubic feet are expected to supply Malaysia LNG from 2030. The transaction, covering more than 100,000 square kilometers across various licenses, is subject to regulatory approvals.
In Indonesia, TotalEnergies will acquire a 24.5% interest in the Bobara block from PETRONAS, which will retain the remaining interest and operatorship.
This expansion follows TotalEnergies’ acquisition of SapuraOMV in December 2024, further strengthening its position in Southeast Asia with Malaysia as a strategic hub. The company is now Malaysia’s third-largest gas operator.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Tan Sri Tengku Muhammad Taufik, President and Group CEO of PETRONAS, also signed a strategic cooperation agreement to expand their partnership in global exploration and production.
TotalEnergies has operated in Malaysia since 1985 and currently employs about 300 people in the country. The company holds interests in multiple blocks in Malaysian waters, including SK408 (40%), SK310 (30%), and SB412 (40%).
According to the press release statement, the new acquisitions are expected to support TotalEnergies’ future low-cost, low-carbon production growth with exposure to the Asian LNG market.
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