Malaysia: TotalEnergies Signs Agreements to Acquire Operated Interest in Two Major Offshore Gas Fields

What happened: TotalEnergies signed agreements with PETRONAS Carigali, PTTEP and KUFPEC to acquire a 30% operated interest in the Lang Lebah and B14 gas fields off Sarawak, Malaysia, subject to regulatory approvals. Key numbers: 30% operated interest; more than 6.5 trillion cubic feet of gas resources, over 1 billion barrels of oil equivalent; Why it matters: TotalEnergies said the fields will create another large-scale gas hub in Malaysia supplying Malaysia LNG and meeting growing Asian LNG demand, following its SapuraOMV acquisition in 2024 and expanded PETRONAS partnership in 2025. Market: +0.1% today ($127.75), -6.3% YTD, 0.1x vol — as of 08:45 UTC

TotalEnergies signed agreements with PETRONAS Carigali, PTTEP and KUFPEC to acquire a 30% operated interest in the Lang Lebah and B14 gas fields off Sarawak, Malaysia, subject to regulatory approvals.

TotalEnergies said the fields will create another large-scale gas hub in Malaysia supplying Malaysia LNG and meeting growing Asian LNG demand, following its SapuraOMV acquisition in 2024 and expanded PETRONAS partnership in 2025. Market: +0.1% today ($127.75), -6.3% YTD, 0.1x vol — as of 08:45 UTC