PETRONAS and TotalEnergies Expand Longstanding Upstream Collaboration

PETRONAS and TotalEnergies have signed a Strategic Cooperation Agreement (SCA) and two Farm Out Agreements (FOAs) to broaden their upstream collaboration in Malaysia, while making progress on their international partnership under the Bobara Production Sharing Contract (PSC) in Indonesia.

The agreements build on the longstanding partnership between the two companies, with the SCA outlining potential opportunities both internationally and domestically in strategic areas that cover exploration and production, gas and liquefied natural gas (LNG), carbon footprint reduction and cooperation.

For Malaysia, PETRONAS, through its wholly-owned subsidiary, PETRONAS Carigali Sdn Bhd, and TotalEnergies EP Malaysia will jointly explore several offshore exploration blocks across the country’s most prospective hydrocarbon basins. This strategic partnership combines PETRONAS' exploration and operational expertise with TotalEnergies' technical capabilities to optimise exploration efficiency and sustainably develop Malaysia's hydrocarbon resources.

Meanwhile, in Indonesia, PETRONAS, through its wholly-owned subsidiary, PETRONAS Energy Bobara Sdn Bhd and TotalEnergies have successfully finalised the terms of an FOA for the Bobara PSC. This collaboration aims to leverage the combined expertise of both companies to unlock a new hydrocarbon resource in Bobara, a frontier ultra-deepwater block located in the Eastern Indonesia region.