Petronas, Partners Sign Farm-Out Agreements For Sarawak Offshore Fields
KUALA LUMPUR, Nov 2 (Bernama) -- Petroliam Nasional Bhd (Petronas), through its wholly-owned subsidiary Petronas Carigali Sdn Bhd, has entered into a series of farm-out agreements (FOAs) with its joint venture partners.
The agreements cover the SK410B Lang Lebah and B14 fields, located offshore Sarawak.
The joint venture partners — TotalEnergies, Kuwait Foreign Petroleum Exploration Company (KUFPEC), and PTT Exploration and Production (PTTEP) — are engaged in agreements designed to promote a more integrated development of gas resources across two fields under the SK410B Production Sharing Contract (PSC) and the B14 PSC, respectively.
Upon completion of the arrangements, TotalEnergies will assume operatorship of both fields.
“The integrated development approach is expected to enable greater coordination across the two fields, optimising infrastructure planning, facilities development, and resource monetisation while enhancing project efficiency and long-term value creation for Sarawak and Malaysia,” said Petronas in a statement today.
It also said the FOAs represent an important milestone in unlocking the value of gas resources across the SK410B Lang Lebah and B14 fields.
“By aligning operatorship and development planning across both PSCs, the joint venture parties are better positioned to optimise resources, enhance execution efficiency, and accelerate project delivery,” said Petronas.
Upon completion of the FOAs, the participating interests in each PSC will be held by TotalEnergies at 30 per cent as operator, PTTEP at 25 per cent, KUFPEC at 25 per cent, and Petronas Carigali at 20 per cent.
The completion of the FOAs remains subject to the relevant regulatory approvals.
The parties commemorated the FOAs during a signing ceremony on Nov 1, 2026, in Abu Dhabi, United Arab Emirates, in conjunction with ADIPEC 2026, one of the leading energy industry gatherings.
“This strategic collaboration reflects Petronas' continued commitment to responsibly developing Malaysia's gas resources, supporting long-term energy security while creating sustainable value for Malaysia's energy industry and its stakeholders,” it said.
-- BERNAMA