TotalEnergies Divests Minority Stake in Malaysia’s SK408 Gas Block to PTTEP

TotalEnergies has strengthened its partnership with PTTEP through a stake adjustment in Malaysia’s SK408 offshore gas block, retaining operatorship while optimizing its regional gas portfolio. The move reinforces Malaysia’s role as a key hub for long-term gas supply and supporting infrastructure in Southeast Asia.

TotalEnergies has strengthened its partnership with PTTEP through a portfolio transaction in Malaysia’s SK408 offshore gas block, reinforcing its long-term position in one of Southeast Asia’s key gas-producing regions.

Under the agreement, TotalEnergies divested an indirect 9.998% interest in SK408 to PTTEP, while retaining a 30.002% operated stake in the block. The transaction follows a series of strategic moves by TotalEnergies to consolidate and optimize its upstream gas portfolio in Malaysia.

SK408 is a major offshore gas development contributing to Malaysia’s domestic energy supply and regional gas infrastructure. Operated by TotalEnergies, the block forms part of an integrated upstream system that supports production, processing, and downstream gas utilization.

The deal builds on TotalEnergies’ expanded footprint in Malaysia following its acquisition of SapuraOMV Upstream in late 2024 and additional asset purchases from PETRONAS Carigali in 2025. With these transactions completed, TotalEnergies has become the country’s third-largest gas operator.

For pipeline and gas infrastructure stakeholders, the continued development of SK408 underscores the importance of Malaysia’s offshore gas assets in supporting long-term supply security, future tie-ins, and potential integration with carbon management and LNG-related initiatives in the region.