The French oil and gas company TotalEnergies has finalised its acquisition of 100% of SapuraOMV Upstream, an independent gas producer in Malaysia. TotalEnergies acquired the interests held by OMV (50%) and Sapura Upstream Assets (50%) in the company. TotalEnergies first announced its intention to acquire 100% of SapuraOMV in April 2024.
SapuraOMV’s main assets are its 40% operated interest in block SK408 and 30% operated interest in block SK310, both located offshore Sarawak in Malaysia. In 2024, SapuraOMV’s operated production (100%), supported by the start-up of the Jerun gas field in July 2024, is expected to reach approximately 590 mcf/d (6.1 bcm/year) of natural gas, feeding the Bintulu LNG plant operated by Petronas, as well as 10 kb/d of condensates.
TotalEnergies has been active in Malaysia since 1985. It already held a 40% interest in block SB412, and the acquisition of SapuraOMV Upstream will enable to round out its existing portfolio of 34.9% in both blocks SB-2K and SB-N and 85% in block DW2E. TotalEnergies also markets petroleum products through its affiliate TotalEnergies Marketing Malaysia.