TotalEnergies: buremaining 50% of SapuraOMV for $530m

(CercleFinance.com) - TotalEnergies announces that it has signed an agreement with SapuraUpstream Assets(SUA) to acquire its 50% stake in SapuraOMV Upstream (SapuraOMV), an independent gas producer and operator in Malaysia.


The $530m transaction is expected to close in H2 2024, subject to regulatory approval.

This agreement follows the signature, on 31 January 2024, of an initial agreement with OMV for the acquisition of its 50% interest in SapuraOMV.

TotalEnergies is therefore expected to ultimately own 100% of SapuraOMV.

As a reminder, SapuraOMV's main assets are its 40% operated interest in Block SK408 and 30% operated interest in Block SK310, both located off the Sarawak coast of Malaysia.

In 2023, production operated by SapuraOMV (100%) amounted to around 500 million cubic feet per day of natural gas, destined for the Petronas-operated Bintulu liquefaction plant, as well as 7,000 barrels per day of condensate.


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