Fossil Energy
TotalEnergies has agreed to sell its 85% interest in Malaysia’s offshore Block 2E to Inpex for $350 million.
This divestment forms part of the company’s portfolio management strategy and includes its net 8.5% interest in the Marjoram gas field.
The Marjoram field is currently under development. TotalEnergies has stated that through this transaction, it is monetising its minority non-operated interest in order to focus on its operated portfolio and strategic growth opportunities in Malaysia.
“This agreement is fully aligned with our strategy of actively managing our portfolio and prioritising material positions to support our ambition to develop low-cost, low-emission projects.”
“With the Jerun field now operational and a substantial portfolio of opportunities, Malaysia has become a pivotal platform for TotalEnergies’ low-cost, low-emission growth strategy, benefiting both the nation and the broader Southeast Asian region,” stated Nicolas Terraz, President of Exploration & Production at TotalEnergies.
