TotalEnergies Expands Oil and Gas Arsenal in Southeast Asia Through Strategic Partnerships
France’s energy giant TotalEnergies has recently made significant moves to strengthen its presence in the oil and gas industry in Southeast Asia. The company has acquired stakes in multiple offshore blocks in Malaysia and Indonesia, solidifying its strategic partnership with Petronas and enhancing its position in the region’s natural gas market.
One of the key acquisitions includes Petronas’ interests in blocks offshore Malaysia, where TotalEnergies, in collaboration with Petronas Carigali, will hold a 50% operated working interest in blocks SK301b and SK313. These blocks have seen significant gas discoveries, with plans to develop them to support gas supply to Malaysia LNG from 2030.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, expressed his enthusiasm about the acquisitions, stating, “TotalEnergies has established itself as a significant gas producer in Malaysia. We are pleased to further expand our presence in the country, which we see as a strategic platform for our future low-cost, low-carbon production and cash-flow growth, underpinned by the exposure to the Asian LNG market.”
Aside from the acquisitions in Malaysia, TotalEnergies has also expanded its collaboration with Petronas to Indonesia, acquiring a 24.5% interest in the Bobara block offshore Indonesia. This move further strengthens TotalEnergies’ global strategic collaboration with Petronas and demonstrates the company’s commitment to exploring new opportunities in the region.
The long-standing partnership between TotalEnergies and Petronas has proven to be fruitful, with both companies leveraging their complementary strengths to unlock new opportunities. The signing of a strategic cooperation agreement to deepen their partnership in exploration and production businesses globally signifies their shared commitment to responsible growth and long-term value creation.
Overall, TotalEnergies’ recent acquisitions in Southeast Asia, coupled with its strategic partnerships with Petronas, have positioned the company as a key player in the region’s oil and gas industry. With a focus on maximizing commercial potential and delivering sustainable value, TotalEnergies continues to expand its portfolio and strengthen its presence in key markets worldwide.