White & Case advises KUFPEC on farm-out agreements for offshore gas fields in Malaysia

Global law firm White & Case LLP has advised Kuwait Foreign Petroleum Exploration Company (KUFPEC), through its wholly owned subsidiary KUFPEC Malaysia (SK-410B) Limited, on a series of farm-out agreements with TotalEnergies, PTTEP and PETRONAS Carigali Sdn. Bhd.

White & Case partner Saul Daniel, who led the Firm's deal team, said: "By aligning interests across the SK410B and B14 PSCs, these farm-out arrangements establish a strong platform for the integrated development and commercialization of significant offshore gas resources. The transaction brings together complementary capabilities to enhance upstream synergies, support a more efficient approach to future production and create sustainable long-term value from Malaysia's gas resources."

The agreements relate to the SK410B Lang Lebah Field under the SK410B Production Sharing Contract (PSC) and the B14 Field under the B14 PSC, both located offshore the state of Sarawak, Malaysia.

KUFPEC is the wholly owned international upstream subsidiary of Kuwait Petroleum Corporation, the national oil company of the State of Kuwait.

Upon completion of the agreements, participating interests in both gas fields will be held by KUFPEC (25%), TotalEnergies (30%) as operator, PTTEP (25%) and PETRONAS Carigali Sdn. Bhd. (20%). Completion remains subject to the receipt of necessary regulatory approvals and satisfaction of customary conditions precedent.

The White & Case team which advised on the transaction was led by partner Saul Daniel (Singapore) and included partner David Baker (London), local partner Philip Tan (Singapore) and associates Jenny Zhang, Cameron Lee and Gabby Wong (all Singapore).

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