TotalEnergies acquires 50% interest in SapuraOMV

TotalEnergies has signed an agreement with Sapura Upstream Assets Sdn Bhd (SUA) to acquire its 50% interest in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for a consideration of US$530 million, subject to closing adjustments.

This agreement follows the first agreement signed with OMV on January 31st, 2024, for the acquisition of its 50% interest in SapuraOMV. After completion of both transactions, which are subject to some conditions precedent, in particular regulatory approvals, TotalEnergies would own 100% of SapuraOMV.

Transaction agreement closing is expected in the second half of 2024.