French energy giant and LNG player TotalEnergies has closed a deal to divest a 9.998 percent stake in block SK408 in Malaysia to Thailand’s PTTEP.
Further to this transaction, TotalEnergies keeps a 30.002 percent interest in block SK408.
TotalEnergies did not provide further information regarding the deal in a statement on Tuesday.
The company said that this partnership with PTTEP in block SK408 marks a new milestone for the company in Malaysia, following the acquisition of SapuraOMV in December 2024 and the purchase of interests in multiple blocks from Malaysia’s Petronas in June 2025.
“With this transaction, TotalEnergies ensures efficient management of its portfolio in Malaysia, while strengthening ties with PTTEP, a long-standing partner of our company”, said Nicolas Terraz, president exploration and production at TotalEnergies.
PTTEP said in a separate statement that it has acquired a 49.99 percent interest in AzurVista Resources, a subsidiary of TotalEnergies.
AzurVista Resources holds a 20 percent participating interest in the SK408 block in Malaysia.
SK408 block is a natural gas and condensate producing field located in the shallow water of Malaysia.
PTTEP noted that the current production volume is approximately 750 million standard cubic feet of natural gas per day and 15,000 barrels of condensate per day.
This investment immediately enhances the company’s production volume and petroleum reserves, it said,
Furthermore, there is a plan to ramp up the production volume in the future, PTTEP added.
Last year, the Jerun field in block SK 408, located approximately 160 km off the coast of Sarawak, offshore Malaysia, achieved its first gas production.
Jerun exports gas via an 80-km pipeline to the E11RB production hub for onward delivery to Bintulu-based customers, including the Petronas-operated Bintulu LNG facility.