OMV AG has completed the sale of its 50 percent stake in SapuraOMV to TotalEnergies. The transaction, finalized on December 10, 2024, involved a cash consideration of US$957 million, which includes the repayment of a US$350 million shareholder loan granted by OMV to SapuraOMV, along with net working capital and other adjustments.

SapuraOMV's primary assets comprise a 40 percent operated interest in Block SK408 and a 30 percent operated interest in Block SK310, both located offshore Sarawak, Malaysia. These assets contribute significantly to natural gas production, supplying the Bintulu LNG plant operated by Petronas.

Ashurst LLP represented OMV with a team that included Michael Burns, Tim Gummer, Mark Spinney, Neil Cuninghame, Ruth Buchanan, and Jessica Davies.

White & Case LLP advised TotalEnergies with a team led by partner Marc Petitier and included partners Jérémie Marthan, Estelle Philippi, and Valérie Ménard, among others.