- TotalEnergies divests 9.998% of block SK408 to PTTEP, retaining 30.002%.
- SK408 is a major gas development contributing to Malaysia's energy security.
- TotalEnergies has operated in Malaysia since 1985 and is the 3rd largest gas operator.
- In 2023, TotalEnergies signed a CO2 storage project deal with PETRONAS and Mitsui.
Transaction Overview
TotalEnergies has finalized an agreement to divest a 9.998% indirect interest in block SK408 in Malaysia to PTTEP. Following this transaction, TotalEnergies retains a 30.002% interest in the block.
Strategic Partnership
This partnership with PTTEP in block SK408 represents a significant step for TotalEnergies in Malaysia. It follows the acquisition of SapuraOMV in December 2024 and the purchase of interests in multiple blocks from PETRONAS Carigali Sdn Bhd in June 2025.
Block SK408
SK408 is a major gas development project that contributes to Malaysia's energy security. Operated by TotalEnergies, the block is part of the company's integrated upstream portfolio in the country.
TotalEnergies in Malaysia
TotalEnergies has been active in Malaysia since 1985 and is a key partner of the national oil company PETRONAS. The company is the third-largest gas operator in Malaysia, employing about 300 people. It holds operated interests of 30.002% in block SK408 and 30% in block SK310, along with interests in 16 other blocks offshore Sarawak and Sabah.
Future Projects
In 2023, TotalEnergies signed an agreement with PETRONAS and Mitsui to develop a CO2 storage project in Southeast Asia, assessing several potential sites in the Malay Basin. The company is also working on hybrid renewable projects, including solar and battery solutions, to supply its B2B customers under the Corporate Renewable Electricity Supply Scheme (CRESS).
