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TotalEnergies Acquires Gas Assets in Malaysia

Graphique de l'évolution du cours de l'action TOTALENERGIES (EPA:TTE).

TotalEnergies announced the completion of the acquisition of interests in SapuraOMV Upstream in Malaysia, held equally by OMV and Sapura Upstream Assets. These assets include 40% of Block SK408 and 30% of Block SK310, located near the coast of Sarawak.

SapuraOMV’s planned production for 2024 will reach 590 million cubic feet of natural gas per day, mainly for the Bintulu liquefaction plant, operated by Petronas. This is supplemented by 10,000 barrels of condensate per day. Production costs remain low, below $5 per barrel of oil equivalent, with low carbon intensity.

TotalEnergies is thus strengthening its presence in Malaysia, where it has been active since 1985 and employs 300 people. This development is accompanied by a CO2 storage project in cooperation with Petronas and Mitsui.

R. H.

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