Energy
TotalEnergies sells Malaysian gas stake to INPEX in $350M deal to sharpen low-carbon growth strategy
The divestment allows TotalEnergies to fully crystallize the value of its minority position in a non-operated gas project
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By ICN Bureau | July 05, 2026
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.
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