TotalEnergies: acquisition of upstream gas assets in Malaysia
January 31, 2024 at 02:31 pm
Share
TotalEnergies announces that it has signed an agreement with OMV to acquire its 50% interest in SapuraOMV Upstream, a Malaysian gas producer and operator, for a consideration valued at $903 million, subject to customary adjustments.
SapuraOMV's main assets are its 40% operated interest in Block SK408 and its 30% operated interest in Block SK310, off the coast of Sarawak, Malaysia. On block SK408, the Jerun gas field is scheduled to come on stream in the second half of 2024.
The transaction is subject to customary conditions, including regulatory approvals. TotalEnergies expects to finalize the transaction by the end of the first half of 2024.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
TotalEnergies SE is one of the leading worldwide oil groups. Net sales break down by activity as follows:
- refining and chemistry (42.7%): refining of petroleum products (operated, at the end of 2023, 16 refineries throughout the world) and manufacture of basic chemistry (olefins, aromatics, polyethylene, fertilizer, etc.) and of specialty chemistry (rubber, resins, adhesives, etc.). The group is also operating in trading and sea transport of crude oil and oil products;
- petroleum products distribution (37.9%): at the end of 2023 operated 14,571 service stations worldwide;
- electricity generation (11.5%): from combined cycle gas plants and renewable energies;
- gas production, trading, transport and distribution (5%): primarily liquefied natural gas (44.3 million tonnes sold in 2023), natural gas, biogas, hydrogen, liquefied petroleum gas, etc.;
- hydrocarbon operating and production (2.8%): 2.5 million barrels of oil equivalent produced per day in 2023;
- other (0.1%).
Net sales are distributed geographically as follows: France (23.4%), Europe (41.2%), North America (9.4%), Africa (9.2%) and other (16.8%).
TOTALENERGIES SE 
