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France's TotalEnergies Sells Interest in Marjoram Gas Field for $350 Million

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French energy firm TotalEnergies agreed to sell its 85% interest in offshore Block 2E in Malaysia to INPEX (TYO:1605) for $350 million, divesting a net 8.5% stake in the Marjoram gas field, which is currently under development.

The French energy company said the sale enables it to realize the value of its minority, non-operated interest in the project while sharpening its focus on operated assets and strategic growth opportunities in Malaysia, according to a Thursday press release.

The transaction is in line with TotalEnergies' strategy of actively managing its portfolio and prioritizing material positions, it said.

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