TotalEnergies buys interests in Malaysian gas fields

TotalEnergies has announced that it has agreed to buy operated interests in two Malaysian gas fields.

The Lang Lebah and B14 fields are located offshore of Sarawak in Malaysia. The agreements were signed with a subsidiary of Petronas, the maker of lubricants like agricultural oil, and its partners. TotalEnergies will become operator with a 30% interest, with Petronas, KUFPEC and PTTEP holding interests of 20%, 25% and 25%, respectively.

Lang Lebah is one of the biggest discoveries of natural gas in Malaysian waters, with resources estimated at the equivalent of more than a billion barrels of oil. Lang Lebah will be developed alongside the nearby B14 field as part of an integrated development project.

Production is expected to reach 10 billion cubic meters per year, with it supplying the Malaysia LNG liquefaction facility. Liquified natural gas (LNG) can be transported by tanker to demand centres, and Malaysia is well placed to supply the growing Asian market for the fuel.

The CEO and chairman of TotalEnergies, Patrick Pouyanné, said that developing the:

“…Lang Lebah and B14 resources will allow the creation of another large-scale gas hub in Malaysia, leveraging shared infrastructure, to supply gas to Malaysia LNG and meet the growing LNG demand in Asia. These agreements mark another important step in our strategy to strengthen our integrated gas position in Malaysia…”

He added that it follows last year’s extension of the company’s established partnership with Petronas. The companies are already partners in a number of fields offshore of Malaysia and one offshore of Indonesia. The new deal is subject to the usual regulatory approvals.

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