KEPCO signs series of agreements with partners to develop two fields in Malaysia - Sarmad
Press coverage 2 newspapers covered this event: Al-Jarida · KUNA →
KEPCO announced the signing of agreements to develop two fields in Sarawak with TotalEnergies, Petronas, and PTTEP.
Translated by Qiyas from سرمد — Original source
Kuwait Oil Company (KOC) announced on Monday that it has signed a series of agreements with TotalEnergies, PTTEP, and Petronas through its subsidiary, Kufpec Malaysia Sdn Bhd, to develop the Lang Lipa (SK410B) and B14 fields located off the coast of Sarawak, Malaysia.
In a press release, Kufpec stated that these agreements represent a strategic step toward strengthening cooperation among partners to develop gas assets, thereby enhancing resource utilization efficiency, accelerating development pace, and achieving sustainable added value.
The company noted that the agreements, which include adjustments to participation shares within the framework of established development plans, mark a significant milestone in the exploration and development of gas resources by enhancing integration and laying the foundation for long-term growth.
According to the statement, following the completion of the agreements, participation shares in both fields will be held by Kufpec at 25 percent, TotalEnergies at 30 percent as operator, PTTEP at 25 percent, and Petronas at 20 percent. The agreements remain subject to obtaining necessary regulatory approvals and fulfilling standard closing conditions.
The statement quoted Kufpec’s Chief Executive Officer, Issa Al-Maraghi, saying, “This partnership aligns perfectly with Kufpec’s strategic direction to enter as a global operator to accelerate the development of these promising assets and maximize their value.”
Al-Maraghi added that cooperation among the partners will contribute to the optimal utilization of Malaysian gas resources, serving mutual interests and enhancing sustainable development pathways for all parties.
Kuwait Oil Company (Kufpec) is a subsidiary of the Kuwait Petroleum Corporation and conducts oil and natural gas exploration and production operations outside Kuwait, holding a diversified investment portfolio in several countries worldwide.
