TotalEnergies has partnered with PETRONAS to acquire interests in multiple offshore blocks in Malaysia and one block in Indonesia, strengthening its position in the South-East Asian energy sector.

Target Information

TotalEnergies has entered into a partnership with PETRONAS, acquiring interests in multiple offshore blocks located in Malaysia and one block in Indonesia. This strategic move aligns with TotalEnergies' ambition to reinforce its position as a significant gas producer in South-East Asia, with Malaysia serving as a pivotal hub for its operations.

The acquired licenses, which cover over 100,000 square kilometers, encompass various development stages, providing TotalEnergies with a diversified portfolio. Notably, TotalEnergies will share a 50% operated working interest in Blocks SK301b and SK313 with its partner PETRONAS. Significant gas discoveries exceeding 4 trillion cubic feet (Tcf) in these blocks are anticipated to bolster gas supply to Malaysia LNG starting in 2030.

Industry Overview in Malaysia

Malaysia's oil and gas sector is a vital component of its economy, contributing significantly to national revenue. The country is recognized for its robust energy infrastructure and natural resources, especially in the upstream segment, with numerous explora