KUFPEC and Joint Venture Parties to Develop SK410B and B14 Fields

Kuwait, 2 November 2026 – Kuwait Foreign Petroleum Exploration Company (KUFPEC), through its wholly owned subsidiary, KUFPEC Malaysia (SK-410B) Limited, together with TotalEnergies, PTTEP, and PETRONAS Carigali Sdn. Bhd. have entered into a series of Farm-Out Agreements (FOAs). The agreements cover the SK410B Lang Lebah Field under the SK410B Production Sharing Contract (PSC) and B14 Field under the B14 PSC off the coast of Sarawak, offshore East Malaysia.

This strategic collaboration supports a more integrated and efficient development of these significant gas resources, enhancing value creation and optimizing future production opportunities. The FOAs mark a key milestone in advancing the development and commercialization of gas resources. By enhancing upstream synergies across both PSCs, the joint venture partners are laying the groundwork for integrated development, and sustainable long-term value.

KUFPEC Chief Executive Officer Eisa Al-Maraghi said “the new partnership supports KUFPEC’s strategic objective of engaging a global operator to accelerate the development of these assets. The collaboration will also contribute to the optimal utilization of Malaysia’s gas resources, creating mutual value and benefits for all participating parties”. 

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

KUFPEC is an international upstream company engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait and is a wholly owned subsidiary of Kuwait Petroleum Corporation, having a diversified investment portfolio in several countries around the world.