TotalEnergies completed the acquisition of a 50% stake in SapuraOMV from OMV for $903m.

TotalEnergies, a French multinational integrated energy and petroleum company, completed the acquisition of a 50% stake in SapuraOMV, an oil and gas firm, from OMV, an Austrian multinational integrated oil, gas and petrochemical company, for $903m. “We are pleased to strengthen TotalEnergies’ position in Malaysia by becoming shareholder of the independent gas producer SapuraOMV. Over the past few years, we have developed a strategic international partnership with Petronas, the national company of Malaysia. This transaction will anchor our future growth in the country and reinforce our partnership with Petronas. With their low production costs and low GHG intensity, SapuraOMV’s assets will perfectly fit in TotalEnergies’ portfolio and participate in meeting the growing demand of gas in Asia,” Patrick Pouyanné, TotalEnergies Chairman and CEO.