TotalEnergies signs agreements to acquire operated interest in two major offshore gas fields

Client(s) TotalEnergies SE

Jones Day is advising TotalEnergies on the signing of agreements with PETRONAS Carigali Sdn Bhd (PCSB), PTTEP and KUFPEC to acquire a 30% operated interest in the Lang Lebah and B14 gas fields off the coast of Sarawak, Malaysia. Lang Lebah, one of Malaysia's largest offshore gas discoveries, is expected to be developed together with the nearby B14 field as an integrated project. The coordinated development is expected to support efficient project execution and make effective use of shared infrastructure, while unlocking significant gas resources for supply to the existing Malaysia LNG liquefaction plant. The transactions are subject to regulatory approvals. On completion, TotalEnergies will hold a 30% operated interest in both fields, alongside PTTEP (25%), KUFPEC (25%) and PCSB (20%).