TotalEnergies (TTE) has agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million, the company said Thursday.
The stake represents a net 8.5% interest in the Marjoram gas field, which is currently under development, according to the company.
TotalEnergies said the sale allows it to realize the value of its minority stake in the non-operated project and focus on its operated portfolio and strategic growth opportunities in Malaysia.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments