PETRONAS, TotalEnergies expand upstream collaboration

PETRONAS and TotalEnergies 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 SCA outlines opportunities in areas that cover exploration and production, gas and liquefied natural gas (LNG) and carbon footprint reduction.

For Malaysia, PETRONAS and TotalEnergies will jointly explore several offshore exploration blocks across the country’s most prospective hydrocarbon basins.

In Indonesia, PETRONAS and TotalEnergies finalized the terms of an FOA for the Bobara PSC. This collaboration aims to unlock a new hydrocarbon resource in Bobara, an ultra-deepwater block in the Eastern Indonesia region.