TotalEnergies Sells 8.5% Stake in Malaysia's Marjoram Gas Field for $350M

TotalEnergies has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX, representing a net 8.5% stake in the Marjoram gas field currently under development, for $350 million. The transaction allows TotalEnergies to fully monetize this minority non-operated position while sharpening its focus on operated assets and strategic growth opportunities in the country.

The divestment aligns with TotalEnergies' portfolio management strategy, prioritizing low-cost, low-emission projects. The Marjoram field is part of a broader gas development offshore Malaysia, where TotalEnergies also operates the Jerun field, which recently came on stream. By exiting this non-operated stake, the company frees up capital and management attention for larger, operated positions where it can exert more control over costs and emissions. For energy traders, this deal highlights the ongoing consolidation in Southeast Asian gas assets, with major players like INPEX increasing their footprint. Traders tracking gas supply dynamics can monitor real-time price movements on NowPrice's live fuel dashboard.

Looking ahead, the completion of the transaction is subject to regulatory approvals. TotalEnergies will continue to focus on its operated portfolio in Malaysia, including the Jerun field ramp-up and potential new developments. The deal also underscores the value of non-operated stakes in gas fields, which can be monetized to fund larger strategic projects. Investors will watch for further portfolio adjustments as TotalEnergies aims to balance its upstream gas exposure with renewable energy investments.