TotalEnergies Signs an Agreement for the Acquisition of OMV’s Upstream Gas Assets in Malaysia
31 Janeiro 2024 - 11:12AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an
agreement with OMV to acquire its 50% interest in Malaysian
independent gas producer and operator SapuraOMV Upstream Sdn
(SapuraOMV) for a consideration of $903 million (including the
transfer of a $350 million loan granted by OMV to SapuraOMV),
subject to customary closing adjustments.
SapuraOMV’s main assets are its 40% operated interest in block
SK408 and 30% operated interest in block SK310, both located
offshore Sarawak in Malaysia. In 2023, SapuraOMV’s operated
production (100%) was about 500 Mcf/d of natural gas, feeding the
Bintulu LNG plant operated by Petronas, as well as 7 kb/d of
condensates. On block SK408, the development of the Jerun gas field
is on track for startup in the second half of the year 2024
The transaction is subject to customary conditions precedent, in
particular the receipt of regulatory approvals. Closing is expected
by the end of first half of 2024.
SapuraOMV also holds interests in exploration licenses in
Malaysia, Australia, New Zealand and Mexico where a discovery has
been made in 2023 on block 30.
“We are pleased to strengthen TotalEnergies’ position in
Malaysia by becoming shareholder of the independent gas producer
SapuraOMV. Over the past few years, we have developed a strategic
international partnership with Petronas, the national company of
Malaysia. This transaction will anchor our future growth in the
country and reinforce our partnership with Petronas. With their low
production costs and low GHG intensity, SapuraOMV’s assets will
perfectly fit in TotalEnergies’ portfolio and participate in
meeting the growing demand of gas in Asia”, said Patrick
Pouyanné, Chairman and CEO of TotalEnergies.
***
About TotalEnergies in Malaysia TotalEnergies owns
interests in two PSCs in exploration phase and signed in June 2023
an agreement with Petronas and Mitsui to develop a carbon storage
project in Southeast Asia and evaluate several CO2 storage sites in
the Malay Basin.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, more sustainable, more reliable and
accessible to as many people as possible. Active in nearly 130
countries, TotalEnergies puts sustainable development in all its
dimensions at the heart of its projects and operations to
contribute to the well-being of people.
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TotalEnergies’ financial results or activities is provided in the
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the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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