KUALA LUMPUR: PETRONAS Carigali Sdn Bhd and its joint venture partners have signed a series of farm-out agreements to advance the integrated development of the SK410B Lang Lebah and B14 gas fields offshore Sarawak.
The agreements involve PETRONAS, TotalEnergies, Kuwait Foreign Petroleum Exploration Company (KUFPEC) and Thailand's PTTEP, with TotalEnergies set to take over operatorship of both fields upon completion of the arrangements.
The integrated development strategy aims to coordinate gas resource development across the two production sharing contract (PSC) areas, allowing the partners to optimise infrastructure planning, facilities development and resource monetisation.
PETRONAS said aligning operatorship and development planning across both fields would improve project execution efficiency, accelerate delivery and maximise the long-term value of Sarawak's gas resources.
Under the proposed ownership structure, TotalEnergies will hold a 30% participating interest in each PSC and serve as operator. PTTEP and KUFPEC will each hold 25%, while PETRONAS will retain a 20% stake.
Completion of the farm-out agreements remains subject to the relevant regulatory approvals.
The agreements were formalised at a signing ceremony in Abu Dhabi yesterday, held in conjunction with ADIPEC 2026, a major gathering of the global energy industry.
The partnership forms part of PETRONAS' efforts to develop Malaysia's gas resources while supporting long-term energy security and generating value for the country's energy sector.
The integrated approach is expected to streamline development activities across the two fields, with the partners seeking to improve operational coordination and resource utilisation through shared planning and infrastructure.