25/06/2025 door Jay Hatton
De bazen van multinationale oliemaatschappijen Petronas and TotalEnergies have enhanced their partnership through the exchange of interests in promising exploration and development blocks.
While the two companies compete in products like agricultural oil, they have complementary capacities in exploration and upstream development. Under the agreement and over time, TotalEnergies will acquire interests in multiple blocks covering over 100,000 square kilometres, mostly offshore of Maleisië.
Some of these blocks are for exploration, while others have already seen discoveries. Most notably, TotalEnergies will buy from Petronas 50% interests in Blocks SK313 and SK301b, which have seen more than a trillion cubic feet in gas discoveries. These are anticipated to supply liquified natural gas (LNG) production in Maleisië from 2030. The two companies also signed a new agreement for strategic collaboration that will strengthen their partnership globally.
The group chief executive officer and president at Petronas, Tan Sri Tengku Taufik, said the two companies had long demonstrated how fresh opportunities could be unlocked through their complementary strengths, adding:
"De ondertekening van vandaag markeert een nieuwe belangrijke stap voorwaarts in ons gedeelde engagement voor verantwoorde groei en waardecreatie op lange termijn. Samen zullen we bevoorrechte vaten nastreven en ontwikkelen in de opkomende exploratieblokken van Maleisië en Indonesië. Onze focus ligt op het maximaliseren van het hoge commerciële potentieel en tegelijkertijd het leveren van duurzame waarde voor alle belanghebbenden."
The market for LNG in Asia is expected to grow substantially over the coming decades. In partnership with Petronas, TotalEnergies expects to use Maleisië as an anchor point to strengthen its position in South East Asia.
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