TotalEnergies Secures Stake in Major Malaysian Offshore Gas Project

The French energy giant finalized agreements with PETRONAS Carigali Sdn Bhd, PTTEP, and KUFPEC to lead development of the integrated project. Once regulatory hurdles clear, TotalEnergies will manage the fields alongside partners holding the remaining 70% stake, with PTTEP and KUFPEC retaining 25% each and PCSB holding 20%.

Developing these assets is expected to unlock over 6.5 trillion cubic feet of gas resources, or roughly 1 billion barrels of oil equivalent. The project targets a production plateau of approximately 10 billion cubic meters annually. CEO Patrick Pouyanné noted the venture creates a new large-scale gas hub by leveraging existing infrastructure. This acquisition deepens the firm's Malaysian footprint, building on the 2024 purchase of SapuraOMV and an expanded partnership with Petronas established earlier this year.