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.