TTE - TotalEnergies Exits Brunei Offloads Oil Asset To Malaysian Company | Benzinga
TotalEnergies SE (NYSE:TTE) is selling its wholly-owned subsidiary, TotalEnergies EP (Brunei) B.V., to Malaysian oil and gas company Hibiscus Petroleum Berhad for $259 million.
The deal aligns with TotalEnergies’ strategy to optimize its portfolio and focus on growth areas while enabling Hibiscus Petroleum to expand its assets and operations in Brunei.
TotalEnergies EP (Brunei) B.V. holds a 37.5% stake in Block B, in partnership with Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%).
Block B, ...