TotalEnergies Expands Malaysia’s Portfolio Strengthening its Strategic Partnership with PETRONAS

During the Energy Asia 2025 event in Kuala Lumpur, TotalEnergies announced a significant milestone: the acquisition of interests from PETRONAS in several offshore blocks in Malaysia and one offshore block in Indonesia. These assets—spanning over 100,000 km²—cover a range of development stages, from exploration to appraisal and production.

A key highlight of the deal is TotalEnergies’ 50% operated working interest in Blocks SK301b and SK313, alongside PETRONAS’ wholly owned subsidiary, Petronas Carigali Sdn Bhd. These blocks contain major gas discoveries exceeding 4 trillion cubic feet (Tcf), which are planned to be developed to support LNG supply for Malaysia starting from 2030. In addition, TotalEnergies will take part in several exploration blocks offshore Malaysia. The agreement remains subject to regulatory approvals and other customary conditions.

This move builds on TotalEnergies’ acquisition of SapuraOMV in December 2024 and further strengthens its regional footprint, establishing Malaysia as a strategic hub in Southeast Asia in collaboration with PETRONAS.

To reinforce their long-standing global partnership, TotalEnergies Chairman and CEO Patrick Pouyanné and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik signed a strategic cooperation agreement aimed at deepening their collaboration in upstream activities around the world.

“TotalEnergies has become a key gas producer in Malaysia. We're proud to expand our position in this country, which serves as a strategic platform for future low-cost, low-carbon production and strong cash-flow growth, driven by access to the Asian LNG market,” said Patrick Pouyanné. “Our deep-rooted partnership with PETRONAS, through multiple joint ventures globally, gives us access to a broad and diverse portfolio spanning the full value chain from exploration to production.”

Tan Sri Tengku Taufik added, “For many years, PETRONAS and TotalEnergies have shown how our complementary strengths can unlock valuable opportunities. This latest step reaffirms our joint commitment to responsible development and long-term value creation. Together, we’ll advance exploration and development in Malaysia and Indonesia’s emerging frontier basins, focusing on high-potential, sustainable resources.”

Strengthening Collaboration in Indonesia

TotalEnergies also signed an agreement to acquire a 24.5% stake from PETRONAS in the Bobara block offshore Indonesia. The block targets oil exploration, with PETRONAS remaining the operator. Upon completion, TotalEnergies will hold a 24.5% interest in the Production Sharing Contract, further extending the companies’ strategic collaboration beyond Malaysia.