REG-TotalEnergies SE TotalEnergies Signs an Agreement in View of Acquiring the Remaining 50% of SapuraOMV, a Significant Upstream Gas Operator in Malaysia

TotalEnergies SEAnnouncement

22/04/2024 11:45

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TotalEnergies Signs an Agreement in View of Acquiring the Remaining 50% of
SapuraOMV, a Significant Upstream Gas Operator in Malaysia

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement with
Sapura Upstream Assets Sdn Bhd (SUA) to acquire its 50% interest in Malaysian
independent gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for a
consideration of $530 million, subject to closing adjustments. Closing is
expected in the second half of 2024.

This agreement follows a first agreement signed with OMV on January 31(st),
2024, for the acquisition of its 50% interest in SapuraOMV.

After completion of both transactions, which are subject to some conditions
precedent, in particular regulatory approvals, TotalEnergies would own 100% of
SapuraOMV.

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 Jerun gas field is on
track for a startup in the second half of 2024. SapuraOMV also holds interests
in exploration licenses in Malaysia, Australia, New Zealand and Mexico, where
a discovery was made in 2023 on block 30.

“Following the transaction with OMV announced two months ago and this new
transaction with Sapura Upstream Assets, TotalEnergies will have full
ownership of SapuraOMV and become a significant gas operator in Malaysia,”
said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “The SapuraOMV
assets are fully in line with our strategy to grow our gas production to meet
demand growth, focusing our portfolio on low-cost and low-emission assets. We
look forward to strengthening our global partnership with Petronas in
Malaysia, a country where we see further development opportunities for our
Company.”

***

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 CO(2) storage sites in the
Malay Basin.

About TotalEnergies

TotalEnergies is a global integrated 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 provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

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