TotalEnergies has agreed to sell its 85% interest in Malaysia's offshore Block 2E to Inpex for $350 million, divesting its net 8.5% interest in the Marjoram gas field as part of its portfolio management strategy.
The Marjoram field is currently under development. Through the transaction, TotalEnergies said it is monetizing its minority non-operated interest to focus on its operated portfolio and strategic growth opportunities in Malaysia.
“This agreement is fully aligned with our strategy of actively managing our portfolio and prioritizing material positions to support our ambition to develop low-cost, low-emission projects.
“With Jerun field now on stream and a large portfolio of opportunities, Malaysia is a strategic platform for TotalEnergies’ low-cost, low-emission growth strategy, serving both the country and the wider Southeast Asia region,” said Nicolas Terraz, President Exploration & Production at TotalEnergies.