03:21 AM EDT, 06/14/2024 (MT Newswires) -- TotalEnergies (TTE) said late Thursday it has agreed to sell its subsidiary in Brunei to Malaysian firm Hibiscus Petroleum Berhad for $259 million.

TotalEnergies EP (Brunei) owns and operates a nearly 38% stake in Block B oilfield offshore Brunei, alongside Shell Deepwater Borneo and Brunei Energy Exploration.

The company expects the deal to close in Q4.