Total lowers its stake in the Papua gas project and transfers management to ExxonMobil

Total Energy has officially lowered its shareholding interest in the Papua gas development project in Indonesia. The company announced it will transfer the management of this facility to ExxonMobil, who currently hold a majority stake. This deal marks the first major restructuring in the Indonesian LNG sector since Total reduced its involvement. The transaction is part of broader efforts by Total to reorganize its energy portfolio globally. ExxonMobil stated that it is fully prepared to take over the project's daily operations and long-term development plans. Both entities confirmed that the handover will occur smoothly without affecting ongoing construction or future production schedules. The move reflects changing strategic priorities among major energy investors in Southeast Asia.