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

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, they will see TotalEnergies holding a 30% operated interest in both fields, alongside PTTEP with a 25% stake, KUFPEC with another 25%, and PCSB with a 20% interest. Lang Lebah is one of Malaysia’s largest offshore gas discoveries.