TotalEnergies said that it agreed to sell its wholly-owned subsidiary in Brunei to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for $259 million. The transaction is expected to close in the fourth quarter 2024. TotalEnergies EP (Brunei) owns and operates a 37.5% interest in Block B offshore area, alongside Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%). Block B, located 85 kilometers off the coast of Brunei, contains the Maharaja Lela/Jamalulam field, which started producing in 1999 and represented a net production for T…