TotalEnergies has acquired interests in multiple offshore blocks from PETRONAS. This move solidifies their partnership on gas discoveries in Malaysia.
In a significant development for the energy sector in Southeast Asia, TotalEnergies today announced a substantial expansion of its operations in Malaysia and a new venture into Indonesia, deepening its strategic partnership with the Malaysian national oil and gas company, PETRONAS. The announcement, made on the occasion of Energy Asia 2025 in Kuala Lumpur, underscores TotalEnergies' commitment to the region as a strategic platform for future growth.
TotalEnergies has acquired interests in a total of eight offshore blocks, encompassing over 100,000 square kilometers, from PETRONAS. These licenses are in various stages of maturation, ranging from exploration to appraisal and development. A key highlight of this acquisition is TotalEnergies' securing of a 50% operated working interest in Blocks SK301b and SK313 offshore Malaysia. These blocks are home to significant gas discoveries, estimated at more than 4 trillion cubic feet (Tcf), which are slated for development to support gas supply to Malaysia LNG from 2030 onwards. TotalEnergies will hold this interest alongside PETRONAS through its wholly-owned subsidiary, Petronas Carigali Sdn Bhd. Additionally, the French energy major will also hold interests in several other exploration blocks offshore Malaysia. The completion of this transaction is contingent upon customary conditions, including regulatory approvals.
Further emphasizing the deepening ties, Patrick Pouyann茅, Chairman and CEO of TotalEnergies, and Tan Sri Tengku Muhammad Taufik, President and Group CEO of PETRONAS, signed a strategic cooperation agreement. This agreement aims to foster a more profound partnership in exploration and production businesses on a global scale.
This latest move builds upon TotalEnergies' recent acquisition of SapuraOMV in December 2024, further solidifying its presence in Southeast Asia with Malaysia emerging as a pivotal anchor point for its regional operations. The long-standing and successful collaboration between TotalEnergies and PETRONAS, which spans upstream businesses across several countries, served as a strong foundation for this expanded partnership.
Beyond Malaysia, TotalEnergies is also broadening its global strategic collaboration with PETRONAS to Indonesia. As part of the agreement, TotalEnergies will acquire a 24.5% interest from PETRONAS in the Bobara block, located offshore Indonesia. This acquisition is geared towards carrying out an exploration work program targeting promising oil prospects. Upon completion of the transaction, TotalEnergies will hold a 24.5% working interest in the Production Sharing Contract, with PETRONAS retaining the remaining working interest and the operatorship of the block. This expansion into Indonesia signifies a new frontier for the established partnership, aiming to unlock further value in the region's diverse energy landscape.
