TotalEnergies has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX, in a deal valued at USD 350 million. The asset represents a net 8.5% stake in the Marjoram gas field, which is currently under development.

 

The divestment allows TotalEnergies to fully crystallize the value of its minority position in a non-operated gas project, as the company sharpens its focus on operated assets and higher-priority growth opportunities in Malaysia.

 

“This agreement is fully aligned with our strategy of actively managing our portfolio and prioritizing material positions to support our ambition to develop low-cost, low-emission projects. 

 

"With Jerun field now on stream and a large portfolio of opportunities, Malaysia is a strategic platform for TotalEnergies’ low-cost, low-emission growth strategy, serving both the country and the wider Southeast Asia region,” said Nicolas Terraz, President Exploration & Production at TotalEnergies.