en.Wedoany.com Reported - French energy group TotalEnergies confirmed on July 2 that it has reached an agreement with Japan's INPEX Corporation to transfer its 85% participating interest in Malaysia's offshore Block 2E to the latter, with a base transaction consideration of $350 million. The block contains the Marjoram gas field, and through this sale, TotalEnergies has realized the value of its 8.5% net equity interest in the field. This transaction marks a further consolidation of TotalEnergies' minority stake in non-operated offshore gas projects in Malaysia. The company stated that the equity sale helps unlock value from non-operated assets while freeing up resources for its operational asset portfolio and strategic growth opportunities in Malaysia.

In its statement, TotalEnergies emphasized that upon completion of the transaction, the company will focus more on assets where it serves as operator, as well as growth projects with synergies within Malaysia. The Marjoram gas field, as the core discovery of Block 2E, had previously entered the preliminary development phase. Through this acquisition, INPEX will increase its equity stake in the upstream gas sector of Southeast Asia. TotalEnergies noted that the transaction price reflects a reasonable valuation of minority interests in the current market environment and aligns with the group's global asset rotation strategy. Both parties expect the transaction to be completed within the year, subject to relevant regulatory approvals.

This asset divestiture is a continuation of TotalEnergies' recent adjustments to its investment portfolio in the Asia-Pacific region. Malaysia's offshore oil and gas resources are abundant, but TotalEnergies has chosen to retain control over its operated assets while entrusting non-operated minority stakes to partners for management. INPEX, as one of Japan's largest oil and gas exploration and development companies, already holds interests in multiple offshore projects in Malaysia. This additional stake in Block 2E will further consolidate its regional supply role. Industry observers note that such equity transfers are common among major international energy companies, aimed at optimizing capital allocation and focusing on core operational areas. TotalEnergies also stated that Malaysia remains an important pillar of its Asia-Pacific business, and it will continue to evaluate development opportunities in the country that meet the group's technical and financial standards.