Total is to acquire an 85% interest in block SK317B, offshore Malaysia, from Petronas.
As per the agreement Total will operate the block, while partner Petronas Carigali will hold the remaining 15% interest.
Block SK317B is located 100km off the coast of Sarawak in water depths of 200-1,000m, covering 700km².
Work during the exploration period includes seismic data acquisition and deep offshore exploration drilling.
The acquisition is in line with Total’s strategy to expand its exploration acreages in new areas while developing partnerships with national oil companies such as Petronas.