TotalEnergies has sold its net 8.5% interest in the Marjoram gas field (Block 2E offshore Malaysia) to INPEX for USD 350 million. The divestment aligns with its strategy to prioritize operated assets and low-emission growth, including the new Jerun field and renewable ventures in Malaysia.
TotalEnergies agreed to divest its 85% participating interest in Block 2E offshore Malaysia, equivalent to a net 8.5% stake in the under-development Marjoram gas field, to INPEX for USD 350 million.
The transaction enables TotalEnergies to crystallize value from a non-operated asset and refocus capital and resources on its core operated portfolio, supporting its low-cost, low-emission growth ambitions in Southeast Asia.
Since 1985 TotalEnergies has built a leading position in Malaysia, holding interests in 17 offshore blocks, employing around 300 staff and ranking as the country’s third-largest gas producer after the SapuraOMV acquisition.
Beyond gas assets, TotalEnergies is advancing low-carbon projects in Malaysia, including CO₂ storage development and a $2.2 billion renewable energy joint venture with Masdar, reinforcing its regional low-emission strategy.
