TotalEnergies to Acquire 30% Stake in Two Major Malaysian Gas Fields

AI Summary

TotalEnergies agreed to acquire operated 30% interests in Malaysia’s Lang Lebah and B14 offshore gas fields from PETRONAS Carigali, PTTEP and KUFPEC. The investment is intended to supply the existing Malaysia LNG plant, and remains subject to regulatory approvals.

TotalEnergies has signed agreements to buy 30% operated interests in two offshore gas fields in Malaysia to boost supply to the existing Malaysia LNG plant, the French supermajor said on Monday. Under the agreements signed with PETRONAS Carigali Sdn Bhd (PCSB), a unit of Malaysia’s state energy firm Petronas, as well as PTTEP and KUFPEC, the French energy giant will buy a 30% operated interest in the Lang Lebah and B14 gas fields, located off the coast of Sarawak, Malaysia. The transactions are subject to regulatory approvals and, once completed,…