TotalEnergies has agreed to sell its non-operated interest in the Marjoram gas field offshore Malaysia to Japan’s Inpex Corp for US$350 million.
The transaction marks a strategic exit from a passive asset for the French energy major, allowing it to reallocate capital toward higher-priority operated projects.
For Inpex, the acquisition strengthens its position in Southeast Asia’s natural gas sector.
The Marjoram field is a significant production asset, and taking over the non-operated stake increases the Japanese firm’s exposure to the region’s supply base.
The deal reflects Inpex’s ongoing strategy to secure stable gas reserves to support domestic demand and regional exports.
The sale comes as TotalEnergies continues to streamline its portfolio.