The transaction allows TotalEnergies to streamline its regional portfolio while focusing on high-priority projects. Nicolas Terraz, President of Exploration & Production at the firm, stated that the move aligns with the company’s broader strategy of prioritizing material positions in low-cost, low-emission developments. With the Jerun field now operational, the company views Malaysia as a vital platform for growth in Southeast Asia.
In section Market Quotes
TotalEnergies Sells Marjoram Gas Field Stake to INPEX for $350 Million
TotalEnergies is offloading its 85% stake in Block 2E offshore Malaysia to INPEX, a deal valued at $350 million. The divestment covers a net 8.5% interest in the Marjoram gas field, marking a tactical shift for the French energy giant as it consolidates its Malaysian operations toward core, operated assets.
Since entering the Malaysian market in 1985, the group has evolved into the country’s third-largest gas producer, largely driven by the acquisition of SapuraOMV Upstream. The firm currently manages interests in 17 offshore blocks near Sarawak and Sabah, supported by a local workforce of roughly 300 employees. Beyond traditional hydrocarbons, the company is diversifying its regional footprint through carbon capture initiatives with PETRONAS and Mitsui, alongside a $2.2 billion renewable energy joint venture with Masdar launched in 2026.
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