on TOTALENERGIES (EPA:TTE)
TotalEnergies Acquires Gas Assets in Malaysia
TotalEnergies announced the completion of the acquisition of interests in SapuraOMV Upstream in Malaysia, held equally by OMV and Sapura Upstream Assets. These assets include 40% of Block SK408 and 30% of Block SK310, located near the coast of Sarawak.
SapuraOMV’s planned production for 2024 will reach 590 million cubic feet of natural gas per day, mainly for the Bintulu liquefaction plant, operated by Petronas. This is supplemented by 10,000 barrels of condensate per day. Production costs remain low, below $5 per barrel of oil equivalent, with low carbon intensity.
TotalEnergies is thus strengthening its presence in Malaysia, where it has been active since 1985 and employs 300 people. This development is accompanied by a CO2 storage project in cooperation with Petronas and Mitsui.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all TOTALENERGIES news