(CercleFinance.com) – TotalEnergies announces the signing of an agreement with SapuraUpstream Assets (SUA) to acquire its 50% stake in the capital of SapuraOMV Upstream (SapuraOMV), an independent gas producer and operator in Malaysia.
The transaction, worth $530 million, is expected to be finalized during the second half of 2024 subject to approval by the competent authorities.
This agreement follows the signing, on January 31, 2024, of a first agreement with OMV relating to the acquisition of its 50% stake in SapuraOMV.
Ultimately, TotalEnergies should therefore own 100% of SapuraOMV.
As a reminder, SapuraOMV’s main assets are its 40% operated interests in Block SK408 and 30% in Block SK310, both located off the coast of Sarawak, Malaysia.
In 2023, production operated by SapuraOMV (100%) amounted to approximately 500 million cubic feet per day of natural gas, intended for the Bintulu liquefaction plant operated by Petronas, as well as 7,000 barrels per day of condensate. .
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