Business Wire·Jul 2, 2026, 2:51 AM ET

Malaysia: TotalEnergies Divests its Minority Non-Operated Interest in Marjoram Gas Field

TotalEnergies divested its 85% interest in Block 2E offshore Malaysia to INPEX for USD 350 million, retaining a net 8.5% interest in the Marjoram gas field.
The transaction allows TotalEnergies to crystallize the full value of this non-operated asset while focusing on its operated portfolio & strategic growth in Malaysia.
Nicolas Terraz stated the deal aligns with the company's strategy to prioritize material positions for low-cost, low-emission projects, citing the Jerun field as operational.
TotalEnergies has operated in Malaysia since 1985, employs approximately 300 people, & is the country's third-largest gas producer following the SapuraOMV Upstream acquisition.
The company holds interests in 17 offshore blocks off Sarawak & Sabah & markets petroleum products through its subsidiary TotalEnergies Marketing Malaysia.
In 2023, TotalEnergies signed an agreement with PETRONAS & Mitsui to develop a CO2 storage project & assess sites in the Malay Basin.
On April 2, 2026, TotalEnergies & Masdar announced a $2.2 billion joint venture to accelerate renewable energy growth in Asia, particularly Malaysia.
TotalEnergies is a global integrated multi-energy company with over 100,000 employees present in around 120 countries.