TotalEnergies has agreed to sell its 85% interest in Block 2E offshore Malaysia, which represents a net 8.5% stake in the Marjoram gas field currently under development, to INPEX for USD 350 million. The transaction allows TotalEnergies to crystallize the full value of this minority, non-operated interest and refocus on its operated portfolio and strategic growth opportunities in Malaysia. Nicolas Terraz, President Exploration & Production at TotalEnergies, said the deal aligns with the company's strategy of actively managing its portfolio and prioritizing material positions to support low-cost, low-emission projects. TotalEnergies has been present in Malaysia since 1985 and became the country's third-largest gas producer following the acquisition of SapuraOMV Upstream.
Inpex CorporationINPEX acquires a minority stake in the Marjoram gas field for USD 350 million, expanding its portfolio.
TotalEnergies SETotalEnergies sells a non-operated minority stake for USD 350 million, crystallizing value and refocusing on operated assets.