TotalEnergies to acquire a 50% stake in SapuraOMV from Sapura Upstream Assets for $530m.

TotalEnergies, a global integrated energy company, agreed to acquire a 50% stake in SapuraOMV, a Malaysian independent gas producer and operator, from Sapura Upstream Assets, a global integrated oil and gas services and solutions provider, for $530m. “Following the transaction with OMV announced two months ago and this new transaction with Sapura Upstream Assets, TotalEnergies will have full ownership of SapuraOMV and become a significant gas operator in Malaysia. The SapuraOMV assets are fully in line with our strategy to grow our gas production to meet demand growth, focusing our portfolio on low-cost and low-emission assets. We look forward to strengthening our global partnership with Petronas in Malaysia, a country where we see further development opportunities for our Company,” Patrick Pouyanné, TotalEnergies Chairman and CEO.