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. Together with the nearby B14, the two fields are planned to be developed as an integrated project.
TotalEnergies has estimated that the development would unlock more than 6.5 trillion cubic feet of gas resources, equivalent to more than 1 billion barrels of oil equivalent, to supply the existing Malaysia LNG liquefaction plant with a production plateau of around 10 billion cubic meters per annum.
“The development of Lang Lebah and B14 resources will allow the creation of another large-scale gas hub in Malaysia, leveraging shared infrastructure, to supply gas to Malaysia LNG and meet the growing LNG demand in Asia,” TotalEnergies chairman and CEO Patrick Pouyanné said.
“These agreements mark another important step in our strategy to strengthen our integrated gas position in Malaysia, following the acquisition of SapuraOMV in 2024 and the expansion of our long-standing partnership with PETRONAS in 2025.”
TotalEnergies last year expanded its Malaysian portfolio by strengthening its strategic partnership with Petronas. The two companies partnered in multiple blocks offshore Malaysia and one block offshore Indonesia.
Another European major, Italy’s Eni, partnered earlier this year with Petronas to launch Searah, a new jointly-owned upstream company that combines their oil and gas operations across Indonesia and Malaysia, creating one of the largest independent energy ventures in Southeast Asia.
By Tsvetana Paraskova for Oilprice.com
