TotalEnergies Signs Agreement with OMV for Acquisition


TotalEnergies has announced a significant agreement with OMV to acquire a 50% stake in SapuraOMV, the Malaysian independent gas producer and operator. The deal, valued at $903 million, includes the transfer of a $350 million loan from OMV to SapuraOMV. The transaction is subject to customary closing adjustments and regulatory approvals, with completion expected by the end of the first half of 2024.

SapuraOMV’s Key Assets

SapuraOMV holds valuable interests in two offshore blocks in Sarawak, Malaysia. It operates with a 40% stake in block SK408 and a 30% stake in block SK310. In 2023, SapuraOMV’s production stood at approximately 500 Mcf/d of natural gas and 7 kb/d of condensates. The gas feeds into the Bintulu LNG plant, operated by Petronas. Furthermore, the Jerun gas field on block SK408 is set to commence operations in the second half of 2024.

Expanding TotalEnergies’ Presence

TotalEnergies views this acquisition as an opportunity to strengthen its position in Malaysia while building on its strategic partnership with Petronas. As Patrick Pouyanné, Chairman and CEO of TotalEnergies, explains, “With their low production costs and low GHG intensity, SapuraOMV’s assets will perfectly fit in TotalEnergies’ portfolio and participate in meeting the growing demand for gas in Asia.”

Additional Exploration Interests

In addition to its assets in Malaysia, SapuraOMV holds exploration licenses in Australia, New Zealand, and Mexico. Notably, the company made a discovery on block 30 in Mexico in 2023.

TotalEnergies’ Involvement in Malaysia

TotalEnergies already has interests in two exploration phase production sharing contracts (PSCs) in Malaysia. Furthermore, the company recently partnered with Petronas and Mitsui to develop a carbon storage project in Southeast Asia and assess multiple CO(2) storage sites in the Malay Basin.

TotalEnergies: Powering the World with Sustainable Energy

TotalEnergies, a global multi-energy company, is dedicated to producing and distributing various forms of energy including oil, biofuels, natural gas, green gases, renewables, and electricity. With a workforce exceeding 100,000 employees, our mission is to make energy more affordable, sustainable, reliable, and accessible to everyone around the globe. Operating in almost 130 countries, TotalEnergies prioritizes sustainable development across all its projects and operations to enhance the well-being of people.


In today’s fast-paced world, the demand for energy has never been greater. TotalEnergies recognizes this need and has positioned itself as a leading player in the energy sector. Our expansive portfolio allows us to cater to diverse energy requirements while reducing our environmental footprint.

Commitment to Sustainability

At TotalEnergies, we strive for a sustainable future that benefits both present and future generations. By integrating sustainable development into every aspect of our business, we ensure that energy production is in harmony with the planet.

Global Reach

TotalEnergies operates on a global scale with a presence in nearly 130 countries. This allows us to serve a wide range of communities and contribute to their development. We believe that everyone should have access to clean and reliable energy, regardless of their location.

Forward Thinking

In an ever-changing world, innovation is key. TotalEnergies constantly seeks new ways to improve energy solutions and adapt to the evolving needs of society. Our research and development efforts are centered on finding cutting-edge technologies that prioritize efficiency and sustainability.

Cautionary Note

This document may contain forward-looking information and statements that are based on economic data and assumptions specific to a particular economic, competitive, and regulatory environment. However, these projections may prove inaccurate in the future and are subject to various risk factors. TotalEnergies SE and its subsidiaries assume no obligation to publicly update any forward-looking information or statements contained in this document, regardless of new information or future events.

For information regarding risk factors that could impact TotalEnergies’ financial results or activities, please refer to the most recent Universal Registration Document filed with the French securities regulator Autorité des Marchés Financiers (AMF) and the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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