French energy company TotalEnergies has agreed to acquire a 30% operated interest in two offshore gas fields in Malaysia as part of efforts to expand its gas portfolio and increase supplies to the country’s liquefied natural gas (LNG) facilities.
The company announced on Monday that it had signed agreements with PETRONAS Carigali Sdn Bhd (PCSB), PTTEP and KUFPEC to acquire interests in the Lang Lebah and B14 gas fields, located offshore Sarawak.
Following completion of the transactions, subject to regulatory approvals, the ownership structure of the fields will comprise TotalEnergies with 30%, PTTEP and KUFPEC with 25% each, while PCSB will retain the remaining 20%.
The two fields are expected to be developed together as an integrated gas project, with TotalEnergies estimating that they contain more than 6.5 trillion cubic feet (Tcf) of gas resources, equivalent to over one billion barrels of oil equivalent.
The development is expected to support gas production of approximately 10 billion cubic metres annually at peak capacity, with supplies directed to the existing Malaysia LNG liquefaction plant.
TotalEnergies Chairman and Chief Executive Officer, Patrick Pouyanné, said the project would establish another major gas hub in Malaysia by using shared infrastructure to supply the country’s LNG facilities and meet rising demand for the fuel across Asia.
He added that the agreements would strengthen the company’s integrated gas operations in Malaysia, following its acquisition of SapuraOMV in 2024 and the expansion of its partnership with PETRONAS in 2025.
Under the expanded partnership announced last year, both companies agreed to collaborate across several offshore blocks in Malaysia and an additional block in Indonesia.
TotalEnergies’ latest move comes amid increasing competition among international energy companies to strengthen their presence in Southeast Asia’s oil and gas industry.
Earlier this year, Italian energy company Eni partnered with PETRONAS to establish Searah, a jointly owned upstream company combining their oil and gas operations in Malaysia and Indonesia.
The venture is expected to become one of the largest independent energy companies operating in Southeast Asia.
