TotalEnergies signed an agreement with the Austrian company OMV to buy, for US$ 903 million, a 50% stake in a subsidiary that produces gas in MalaysiaThe French company reported this Wednesday.
The French oil giant explained in a statement that the US$903 million it will pay for SapuraOMV includes the assumption of a US$350 million loan that OMV granted to that Malaysian company.
The closing of the operation, which is conditional on the usual procedures, in particular the approvals of the regulatory authorities, is expected by the end of the first half.
SapuraOMV’s main assets are 40% and 30% stakes in two blocks located in Malaysian waters, off the coast of Sarawak.
Last year, its production was about 500 million cubic feet per day of natural gas destined for the Bintulu liquefaction plant, operated by Petronas, as well as 7,000 barrels per day of condensate.
In one of the two blocks, the exploitation of a gas field, Jerun, should begin in the second half of this year.
In addition, SapuraOMV also has interests in other exploration permits in Malaysia, Australia, New Zealand and Mexico.
Source: Gestion
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