TotalEnergies has closed an agreement to divest to PTTEP an indirect interest of 9.998% in block SK408 in Malaysia.
TotalEnergies will keep a 30.002% interest in block SK408 and the operatorship. The block is a major gas development, contributing to Malaysia’s energy security.
The partnership with PTTEP in block SK408 marks a new milestone for TotalEnergies in Malaysia, following the acquisition of SapuraOMV in December 2024 and the purchase of interests in multiple blocks from PETRONAS Carigali Sdn Bhd in June 2025.
“With this transaction, TotalEnergies ensures efficient management of its portfolio in Malaysia, while strengthening ties with PTTEP, a long-standing partner of our Company. Together with PTTEP, we look forward to further contributing to the development of Malaysia’s energy resources”, said Nicolas Terraz, President Exploration & Production at TotalEnergies.
Aside from SK408 and 30%, TotalEnergies holds 30% stake in block SK310, as well as interests in 16 other blocks offshore Sarawak and Sabah.
In 2023, the company signed a deal with PETRONAS and Mitsui to develop a CO2 storage project in Southeast Asia and assess several potential sites in the Malay Basin.
The company is also developing hybrid renewable projects - solar and battery - to supply its B2B customers under the Corporate Renewable Electricity Supply Scheme (CRESS).