Petronas And TotalEnergies Cooperation Working On WK Bobara In West Papua

JAKARTA - The giant oil and gas company as Malaysia, Petronas and an oil and gas company from France, TotalEnergies has signed Strategic Cooperation Agreement (SCA) and two Farm Out Agreements (FOA) to expand cooperation in its upstream oil and gas operations in Malaysia as well as the management of Revenue Sharing Contracts for the Bobara Working Area in Indonesia.

This agreement strengthens the long-standing partnership between the two companies, with SCA outlining strategic opportunities both at the international and domestic levels that include exploration and production activities, liquefied gas and natural gas (LNG), reducing carbon emissions, and other forms of cooperation.

In Malaysia, Petronas through its subsidiary, Petronas Carigali Sdn Bhd, together with TotalEnergies EP Malaysia will explore several offshore exploration blocks in the country's most prospective basins.

This strategic partnership combines Petronas' exploration and operational expertise with TotalEnergies' technical capabilities to optimize exploration efficiency and develop Malaysian oil and gas resources in a sustainable manner.

Meanwhile, in Indonesia, Petronas through its subsidiary, Petronas Energy Bobara Sdn Bhd, and TotalEnergies have reached a FOA agreement for a Contract for Share of the Results of the Bobara Working Area. This collaboration aims to utilize the combined expertise of the two companies to develop new oil and gas resources in this Working Area which is located in deep waters in Eastern Indonesia.

Related transactions are currently still in the process of being approved by the Government of Indonesia.

The signing ceremony was attended by senior leaders of the two companies, including the Petronas President and Group Chief Executive Officer, Tan Sri Tengku Muhammad Taufik; Petronas Executive Vice President and Chief Executive Officer of Upstream, Mohd Jukris Abdul Wahab; TotalEnergies Chairman and Chief Executive Officer, Patrick Pouyanné; and TotalEnergies President of Exploration & Production, Nicolas Terraz.

Tan Sri Tengku Muhammad Taufik said that the collaboration between Petronas and TotalEnergies that had existed for years was able to open up new opportunities. According to him, this signing is an important milestone in a shared commitment to support growth and long-term value creation.

"Through this partnership, we will explore and develop superior hydrocarbon potential in frontier exploration blocks in Malaysia and Indonesia. Our focus is optimizing commercial potential while continuing to provide sustainable value for all stakeholders," he said, quoted on Saturday, June 21.

Meanwhile, Patrick Pouyann\'e added that TotalEnergies has confirmed its position as one of the main gas producers in Malaysia. Therefore, the company is enthusiastic enough to expand its business in neighboring countries.

"We are excited to expand our presence in this country, which we consider a strategic platform for low-cost production and minimal carbon emissions, while supporting increased cash flow through access to the LNG Asia market," he said.

"The strategic partnership between TotalEnergies and Petronas, which goes beyond Malaysia's territory limits through various global collaborations, provides us with access to a broad and diverse portfolio in the country, from the exploration stage to production," he added.