TotalEnergies to Acquire Operated Stakes in Two Offshore Gas Fields in Malaysia

The company has signed agreements to acquire a 30% operated interest in Lang Lebah and B14.

TotalEnergies has agreed to acquire a 30% operated interest in the Lang Lebah and B14 gas fields off the coast of Sarawak, Malaysia. The fields are planned to be developed as an integrated project.

Author: Робот Source: France’s TotalEnergies

Offshore gas platform near the coast of Sarawak, Malaysia — Lang Lebah and B14 are planned for development off the coast of Sarawak, Malaysia. Illustrative photo. Photo: Rossographer / Wikimedia Commons, CC BY-SA 2.0

TotalEnergies said it had signed agreements with PETRONAS Carigali Sdn Bhd (PCSB), PTTEP and KUFPEC to acquire a 30% operated interest in the Lang Lebah and B14 gas fields off the coast of Sarawak, Malaysia.

The fields are planned to be developed as an integrated project. Lang Lebah, one of Malaysia’s largest offshore gas discoveries, and nearby B14 are expected to unlock more than 6.5 trillion cubic feet of gas resources, equivalent to more than 1 billion barrels of oil equivalent.

The project is intended to supply the existing Malaysia LNG liquefaction plant, with a planned production plateau of around 10 billion cubic metres a year.

TotalEnergies Chairman and CEO Patrick Pouyanné said the development would create another large-scale gas hub in Malaysia, using shared infrastructure to supply Malaysia LNG and meet growing LNG demand in Asia.

The transactions are subject to regulatory approvals. Once completed, TotalEnergies will hold a 30% interest in both fields, PTTEP and KUFPEC will each hold 25%, and PCSB will hold 20%.

Source: France’s TotalEnergies

Countries:

Malaysia

Tags:

Oil and Gas

TotalEnergies to Acquire Operated Stakes in Two Offshore Gas Fields in Malaysia

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