French energy major TotalEnergies has signed farm-out agreements to acquire a 30% operated interest in the Lang Lebah and B14 offshore gas fields located off Sarawak, Malaysia.
The deals were struck with Petronas Carigali, Thailand’s PTTEP and Kuwait’s KUFPEC, and were formalised at a ceremony on 1 November 2026 in Abu Dhabi held alongside ADIPEC 2026. Completion remains contingent on securing the relevant regulatory approvals.
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Lang Lebah ranks among Malaysia’s largest offshore gas discoveries. Together with the neighbouring B14 field, the two assets are set to be developed as a single integrated project.
The combined development is expected to unlock more than 6.5 trillion cubic feet of gas resources, equivalent to over one billion barrels of oil equivalent.
At plateau, the combined development is projected to deliver around ten billion cubic metres per annum to feed the existing Malaysia LNG liquefaction plant.
TotalEnergies chairman and CEO Patrick Pouyanné said: “The development of Lang Lebah and B14 resources will allow the creation of another large-scale gas hub in Malaysia, leveraging shared infrastructure, to supply gas to Malaysia LNG and meet the growing LNG demand in Asia.
“These agreements mark another important step in our strategy to strengthen our integrated gas position in Malaysia, following the acquisition of SapuraOMV in 2024 and the expansion of our long-standing partnership with Petronas in 2025.”
Once the transactions close, TotalEnergies will hold operatorship of both fields with a 30% stake, while PTTEP and KUFPEC will each retain 25% and Petronas Carigali will hold 20%.
The fields sit under the SK410B production sharing contract (PSC) and the B14 PSC respectively.
Consolidating operatorship under a single partner across both contracts is designed to improve coordination on infrastructure, facilities and resource monetisation while enhancing long-term project efficiency.
TotalEnergies has operated in Malaysia since 1985 and became the country’s third-largest gas producer following its acquisition of SapuraOMV Upstream. The company holds operated and non-operated interests across multiple offshore blocks off Sarawak and Sabah.
Last week, TotalEnergies reported third-quarter 2026 net income of $8.3bn, more than double the $3.7bn recorded a year earlier. The 124% year-on-year rise was underpinned by record European refining margins, elevated gas prices and continued production growth, though partly offset by the impact of the Middle East conflict on output.
Separately, TotalEnergies signed a farm-out agreement to sell a 40% participating interest in offshore block OPL257 in Nigeria to South Atlantic Petroleum (SAPETRO) to support the fast-track development of that asset. Following that transaction, TotalEnergies will retain a 50% operated interest in OPL257 alongside SAPETRO at 40% and Conoil at 10%.
