TotalEnergies sells 9.9% stake in Malaysia’s block SK408 to PTTEP

Core Insights - TotalEnergies has completed the sale of a 9.998% indirect stake in Malaysia's block SK408 to PTTEP, resulting in a total interest of 30.002% in the asset [1][3] - The transaction is aimed at efficient portfolio management in Malaysia and strengthening the partnership with PTTEP, a long-standing collaborator [2] - TotalEnergies has been active in Malaysia since 1985 and is a partner of Petronas, the state-owned oil company [2] Group 1: Recent Transactions - The sale of the stake in block SK408 follows TotalEnergies' acquisition of a 50% stake in SapuraOMV for $530 million in December last year [3] - TotalEnergies has also acquired additional stakes in Malaysian blocks from Petronas Carigali in June this year [3] - Following these acquisitions, TotalEnergies has become the third-largest gas operator in Malaysia [3] Group 2: Operational Activities - TotalEnergies operates through its affiliate, TotalEnergies Marketing Malaysia, distributing petroleum products in the region [4] - In 2023, the company entered into a collaboration with Petronas and Mitsui to develop a CO₂ storage project in Southeast Asia, evaluating multiple sites in the Malay Basin [4]