REG-TotalEnergies SE TotalEnergies Expands Malaysia’s Portfolio Strengthening its Strategic Partnership with PETRONAS

TotalEnergies SEAnnouncement

Mon 11:30

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TotalEnergies Expands Malaysia’s Portfolio Strengthening its Strategic
Partnership with PETRONAS


 * TotalEnergies partners with PETRONAS in multiple blocks offshore Malaysia and
one block offshore Indonesia.

 * Building on its strategic partnership with PETRONAS, TotalEnergies further
strengthens its position in South-East Asia with Malaysia as an anchor point.

 

On the occasion of Energy Asia 2025 in Kuala Lumpur, TotalEnergies (Paris:TTE)
(LSE:TTE) (NYSE:TTE) announces the acquisition from PETRONAS of interests in
multiple blocks offshore Malaysia and in one block offshore Indonesia, where
exploration, appraisal and development programs will be progressed. The
licenses, which are all in different maturation stages, cover more than
100,000 km(2).

TotalEnergies will notably hold, alongside PETRONAS through its wholly-owned
subsidiary Petronas Carigali Sdn Bhd, a 50% operated working interest in
Blocks SK301b and SK313, where significant gas discoveries (more than 4 Tcf)
were made and are expected to be developed to support gas supply to Malaysia
LNG from 2030. TotalEnergies will also hold, alongside PETRONAS, interests in
several exploration blocks offshore Malaysia. The transaction is subject to
customary conditions, including regulatory approvals.

Following the SapuraOMV’s acquisition in December 2024, this transaction
strengthens TotalEnergies’ position in South-East Asia with Malaysia as an
anchor point, in partnership with PETRONAS.

Building on the successful and long-standing collaboration between the two
companies in the upstream business across several countries, Patrick
Pouyanné, Chairman and CEO of TotalEnergies and Tan Sri Tengku Muhammad
Taufik, President and Group CEO of PETRONAS, also signed a strategic
cooperation agreement to deepen their partnership in exploration and
production businesses globally.

"TotalEnergies has established itself as a significant gas producer in
Malaysia. We are pleased to further expand our presence in the country, which
we see as a strategic platform for our future low-cost, low-carbon production
and cash-flow growth, underpinned by the exposure to Asian LNG market.
TotalEnergies and PETRONAS strategic collaboration, which extends well beyond
Malaysia through our multiple joint ventures worldwide, enables us to access a
large and diverse portfolio in the country, spanning from exploration to
production", said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“For a long time, PETRONAS and TotalEnergies have demonstrated how
complementary strengths can unlock new opportunities. Today’s signing marks
another significant step forward in our shared commitment to responsible
growth and long-term value creation. Together, we will pursue and develop
advantaged barrels across Malaysia's and Indonesia’s frontier emerging
exploration blocks. Our focus is on maximising high commercial potential while
delivering sustainable value for all stakeholders", said Tan Sri Tengku
Taufik, PETRONAS President and Group Chief Executive Officer.

Broadening our global strategic collaboration with PETRONAS to Indonesia

TotalEnergies has signed an agreement to acquire a 24.5% interest from
PETRONAS in the Bobara block, offshore Indonesia, to carry out an exploration
work program targeting oil prospects. After completion, TotalEnergies will
hold 24.5% working interest in the Production Sharing Contract while PETRONAS
will retain the remainder of the working interest and operatorship in the
block.

***

About TotalEnergies in Malaysia

TotalEnergies has been operating in Malaysia since 1985 and is a long-standing
partner of the national oil company PETRONAS. Following the completion of the
acquisition of SapuraOMV Upstream, TotalEnergies is the 3(rd) largest gas
operator in the country. The Company employs about 300 people in the country
and holds operated interests of 40% in block SK408 and 30% in block SK310, as
well as a 40% interest in block SB412. These interests round out its existing
portfolio of 34.9% in both blocks SB-2K and SB-N and 85% in block 2E
(Marjoram). Via its affiliate TotalEnergies Marketing Malaysia, TotalEnergies
also markets petroleum products. In 2023, the Company signed a deal with
PETRONAS and Mitsui to develop a CO(2) storage project in Southeast Asia and
assess several potential sites in the Malay Basin.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen,
renewables and electricity. Our more than 100,000 employees are committed to
providing 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).

TotalEnergies 

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