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TotalEnergies agrees to acquire 30% of Malaysian gas fields

NEWS

November 2, 2026 at 07:20 UTC

2 min read
Unbranded LNG tanker near Malaysian offshore gas fields supplying the Malaysia LNG plant

Key Points

  • 01TotalEnergies signs deals to acquire 30% operated stakes in Lang Lebah and B14 gas fields offshore Sarawak
  • 02Transaction completion is subject to regulatory approvals before TotalEnergies becomes operator
  • 03Integrated development is expected to unlock more than 6.5 trillion cubic feet of gas resources to supply the Malaysia LNG plant.
  • 04Planned output of about 10 bcm of gas per year will be shared with partners PTTEP, KUFPEC and PETRONAS Carigali

TotalEnergies agrees 30% operated stake in Malaysian gas fields

TotalEnergies has signed agreements to acquire a 30 per cent operated interest in the Lang Lebah and B14 offshore gas fields in Malaysia. The fields are located offshore Sarawak and the transactions are subject to regulatory approvals. Once completed, the deals will give the French energy company an operated position in both assets as part of a broader partnership structure.

Under the agreed ownership structure, TotalEnergies will hold 30 per cent in each of the Lang Lebah and B14 fields. PTTEP and KUFPEC will each hold 25 per cent, while PETRONAS Carigali will retain a 20 per cent stake. TotalEnergies will operate both fields within this consortium.

Integrated development and resource potential

The Lang Lebah and B14 gas fields are planned to be developed as a single integrated project. The combined development is expected to unlock more than 6.5 trillion cubic feet of gas resources, equivalent to more than 1 billion barrels of oil equivalent. This scale underpins the role of the project as a significant upstream gas development in Malaysia.

The project is designed to supply gas to the existing Malaysia LNG liquefaction plant. At plateau, production is planned to reach around 10 billion cubic meters of gas per year. This output is intended to feed into Malaysia LNG’s export facilities, supporting liquefied natural gas flows from the country.

Strategic context for Malaysia and Asia LNG

TotalEnergies states that developing the Lang Lebah and B14 resources will enable the creation of another large-scale gas hub in Malaysia, leveraging shared infrastructure. The hub is expected to supply gas to Malaysia LNG and contribute to meeting growing LNG demand in Asia. The integrated approach is positioned around efficiency gains from shared facilities between the two fields.

The company has been present in Malaysia since 1985 and maintains an ongoing partnership with PETRONAS. It became the country’s third-largest gas producer following the acquisition of SapuraOMV Upstream and holds operated and non-operated interests in several offshore blocks off Sarawak and Sabah. The new acquisition follows its purchase of SapuraOMV in 2024 and the expansion of its partnership with PETRONAS in 2025, reinforcing its gas-focused portfolio in the region.

Key Takeaways

  • 01TotalEnergies is set to become operator of the Lang Lebah and B14 gas fields with a 30% stake, pending regulatory approvals.
  • 02The integrated development targets more than 6.5 trillion cubic feet of gas, supporting sustained supply to the Malaysia LNG plant.
  • 03The project strengthens Malaysia’s position as a regional gas hub and deepens TotalEnergies’ long-term partnership with PETRONAS and other partners.

References

  1. https://investir.lesechos.fr/actu-des-valeurs/la-vie-des-actions/totalenergies-acquiert-30-de-deux-champs-gaziers-offshore-en-malaisie-2260396
  2. https://www.channelnewsasia.com/business/totalenergies-buy-30-stake-in-two-malaysian-offshore-gas-fields-6512391
  3. https://rallies.ai/news/totalenergies-agrees-to-acquire-30-operated-stake-in-two-malaysian-offshore-gas-fields-a2f447a6d5612588
  4. https://in.investing.com/news/stock-market-news/totalenergies-acquires-30-stake-in-malaysian-gas-fields-93CH-5670311