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TotalEnergies has entered an settlement to accumulate OMV’s 50% stake in SapuraOMV, a Malaysian impartial gasoline producer, for $903 million (£703m).
The deal contains taking up OMV’s $350 million (£274m) mortgage to SapuraOMV. SapuraOMV’s key property in Block SK408 and Block SK310 contribute round 500 million cubic toes per day of pure gasoline and seven,000 barrels per day of condensate.
The transaction, topic to regulatory approvals, is predicted to conclude by the top of H1 2024, reinforcing TotalEnergies’ place in Malaysia‘s gasoline sector.
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