TotalEnergies (PARIS:TTE) (LSE:TTE) (NYSE:TTE) has closed an agreement to divest to PTTEP an indirect interest of 9.998% in block SK408 in Malaysia. Further to this transaction, TotalEnergies keeps a 30.002% interest in block SK408.
This partnership with PTTEP in block SK408 marks a new milestone for TotalEnergies in Malaysia, following the acquisition of SapuraOMV in December 2024 and the purchase of interests in multiple blocks from PETRONAS Carigali Sdn Bhd in June 2025.
"With this transaction, TotalEnergies ensures efficient management of its portfolio in Malaysia, while strengthening ties with PTTEP, a long-standing partner of our Company. Together with PTTEP, we look forward to further contributing to the development of Malaysia's energy resources," said Nicolas Terraz, President Exploration & Production at TotalEnergies.
About SK408
SK408 is a major gas development, contributing to Malaysia's energy security. Operated by TotalEnergies, the block forms part of the company's integrated upstream portfolio in Malaysia.
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 3rd largest gas operator in the country. The Company employs about 300 people in the country and holds operated interests of 30.002% in block SK408 and 30% in block SK310, as well as interests in 16 other blocks offshore Sarawak and Sabah. 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 CO2 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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