TotalEnergies Takes 30% Operated Stake in Two Malaysian Gas Fields
TTE sits 58% above its 52-week low of $60.58.
Summary
TotalEnergies signed agreements with PETRONAS Carigali, PTTEP and KUFPEC to acquire a 30% operated interest in the Lang Lebah and B14 gas fields off Sarawak, Malaysia. The two fields will be developed as one integrated project expected to unlock more than 6.5 trillion cubic feet of gas resources, over 1 billion barrels of oil equivalent, feeding Malaysia LNG at a plateau of roughly 10 BCMA. Post-closing the partners are PTTEP at 25%, KUFPEC at 25% and PCSB at 20%, with TotalEnergies operating. This builds on the 2024 SapuraOMV acquisition and the 2025 PETRONAS partnership expansion, and follows the October 1 sanctioning of Absheron and Papua LNG — the company keeps stacking long-life gas supply into a portfolio already delivering record Q3 net income of $8,263 million. The deals are subject to regulatory approvals, so timing of closing is the open item.
At the time of this announcement, TTE was trading at $95.85 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $212.8B. The 52-week trading range was $60.58 to $95.78. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.