(WO) \u2014 TotalEnergies has agreed to sell its interest in the offshore Marjoram gas field in Malaysia to INPEX for $350 million as the company continues to streamline its upstream portfolio and focus on operated growth opportunities.<\/p>\n
The transaction covers TotalEnergies’ 85% interest in Block 2E, representing an effective 8.5% interest in the Marjoram gas field, which is currently under development offshore Malaysia.<\/p>\n
The company said the divestment allows it to realize the value of a minority, non-operated asset while concentrating investment on operated projects and strategic growth opportunities in the country.<\/p>\n
“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,” said Nicolas Terraz, president of exploration and production at TotalEnergies.<\/p>\n
TotalEnergies said Malaysia remains a strategic growth area following the startup of the Jerun gas field and its acquisition of SapuraOMV Upstream, which made the company Malaysia’s third-largest gas producer.<\/p>\n
The company now holds interests in 17 operated and non-operated offshore blocks off the coasts of Sarawak and Sabah and continues to expand its presence across both conventional energy and lower-carbon projects in the country.<\/p>\n
In addition to its upstream business, TotalEnergies is advancing a carbon storage project with PETRONAS and Mitsui in the Malay Basin and, earlier this year, announced a $2.2 billion renewable energy joint venture with Masdar focused on Malaysia and the broader Asian market.<\/p>\n","protected":false},"excerpt":{"rendered":"(WO) \u2014 TotalEnergies has agreed to sell its interest in the offshore Marjoram gas field in Malaysia to…\n","protected":false},"author":2,"featured_media":45363,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12699],"tags":[6470,1829,30482,30289,1839,22494,30480,1832,30485,30481,28695,30483,30486,30484,30337,15816,5726,28339,28114],"class_list":["post-45583","post","type-post","status-publish","format-standard","has-post-thumbnail","category-totalenergies","tag-divestment","tag-exploration-and-production","tag-gas-development","tag-inpex","tag-lng","tag-malaysia","tag-marjoram-gas-field","tag-natural-gas","tag-offshore-gas","tag-offshore-malaysia","tag-petronas","tag-portfolio-optimization","tag-sabah","tag-sapuraomv","tag-sarawak","tag-southeast-asia","tag-totalenergies","tag-upstream","tag-world-oil"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/45583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=45583"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/45583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/45363"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=45583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=45583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=45583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}