Key facts
- TotalEnergies said it would hold 30% operated interests in both fields once the deals complete.
- PTTEP would hold 25%, KUFPEC 25% and PETRONAS Carigali 20% in the two fields.
- TotalEnergies estimated the development would unlock more than 6.5 trillion cubic feet of gas resources.
- The company put the resource at more than 1 billion barrels of oil equivalent.
- TotalEnergies estimated a production plateau of around 10 billion cubic meters per annum for Malaysia LNG.
TotalEnergies said it signed agreements to buy 30% operated interests in the Lang Lebah and B14 gas fields off the coast of Sarawak, Malaysia, in a report that did not date the event beyond naming a Monday. The sellers' side is held by PETRONAS Carigali Sdn Bhd, a unit of Malaysia's state energy firm Petronas, alongside PTTEP and KUFPEC.
On completion, which the company said depends on regulatory approvals, TotalEnergies would hold 30% operated interests in both fields, with PTTEP at 25%, KUFPEC at 25% and PCSB at 20%. Lang Lebah is one of Malaysia's largest offshore gas discoveries, and the two fields are planned as an integrated development.
TotalEnergies estimated the development would unlock more than 6.5 trillion cubic feet of gas resources, equivalent to more than 1 billion barrels of oil equivalent, feeding the existing Malaysia LNG liquefaction plant at a production plateau of around 10 billion cubic meters per annum.
"The development of Lang Lebah and B14 resources will allow the creation of another large-scale gas hub in Malaysia, leveraging shared infrastructure, to supply gas to Malaysia LNG and meet the growing LNG demand in Asia," chairman and CEO Patrick Pouyanné said.
Pouyanné said the agreements mark another step in the company's strategy to strengthen its integrated gas position in Malaysia, following the acquisition of SapuraOMV in 2024 and the expansion of its partnership with Petronas in 2025. The report also noted that Italy's Eni partnered with Petronas earlier in the year to launch Searah, a jointly owned upstream company combining their oil and gas operations across Indonesia and Malaysia.