TotalEnergies to buy OMV’s Malaysia assets for US$903mil

TheStar Thu, Feb 01, 2024 11:55am - 2 months View Original


File pic. — Bloomberg

TotalEnergies SE agreed to buy OMV AG’s stake in an independent Malaysian natural gas producer for $903 million, increasing the French energy giant’s presence in southeast Asia.

SapuraOMV, headquartered in Kuala Lumpur, is a joint venture between Sapura Energy Berhad and OMV. It has production and development assets in shallow waters off Malaysia, as well as exploration interests in Mexico, Australia, and New Zealand.

SapuraOMV’s operated production in 2023 was about 500 million cubic feet per day of natural gas, feeding the Bintulu LNG plant operated by Petronas, as well as 7,000 barrels per day of condensates, TotalEnergies said in a statement Wednesday.

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