(Source: Taljat David/Shutterstock.com)
France’s TotalEnergies said Dec. 10 it closed its purchase of SapuraOMV, acquiring both OMV and Sapura Upstream Asset’s 50% interests in the Malaysian independent gas producer.
TotalEnergies paid considerations of $530 million to Sapura Upstream and $957 million to OMV for the shares, OMV said in a separate release.
SapuraOMV’s main assets are its 40% operated interest in Block SK408 and 30% operated interest in Block SK310, both located offshore Sarawak in Malaysia.
The gas producer’s 2024 operated production, supported by the start-up of the Jerun gas field in July, is expected to reach approximately 590 MMcf/d of natural gas. In 2023, production reached approximately 500 MMcf/d of natural gas, TotalEnergies said in its release.
The gas will feed the Bintulu LNG plant operated by Petronas, as well as 10,000 bbl/d of condensates. SapuraOMV’s assets have an overall emission intensity below 10 kg CO2e/boe, the release stated.
SapuraOMV also holds interests in exploration licenses in Malaysia, Australia, New Zealand and Mexico, where a discovery was made in 2023 on Block 30, TotalEnergies reported in April.
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