France's TotalEnergies Sells Interest in Marjoram Gas Field for $350 Million
French energy firm TotalEnergies agreed to sell its 85% interest in offshore Block 2E in Malaysia to INPEX (TYO:1605) for $350 million, divesting a net 8.5% stake in the Marjoram gas field, which is currently under development. The French energy company said the sale enables it to realize the value of its minority, non-operated interest in the project while sharpening its focus on operated assets and strategic growth opportunities in Malaysia, according to a Thursday press release. The transaction is in line with TotalEnergies' strategy of actively managing its portfolio and prioritizing material positions, it said.
French energy firm TotalEnergies agreed to sell its 85% interest in offshore Block 2E in Malaysia to INPEX (TYO:1605) for $350 million, divesting a net 8.5% stake in the Marjoram gas field, which is currently under development.
The French energy company said the sale enables it to realize the value of its minority, non-operated interest in the project while sharpening its focus on operated assets and strategic growth opportunities in Malaysia, according to a Thursday press release.
The transaction is in line with TotalEnergies' strategy of actively managing its portfolio and prioritizing material positions, it said.