Seascape Energy Asia has farmed out a 42.5% interest in the Block 2A production sharing contract offshore Sarawak, Indonesia, to INPEX, according to a March 18 Seascape news release.
INPEX initially agreed in December 2024 to acquire Longboat Energy (2A) from Seascape Energy Asia.
Petronas Malaysia Petroleum Management awarded the concession to E&P company Seascape in early 2023, under the Malaysian Bid Round 2022.
It covers a 12,000-sq-km area in the North Luconia hydrocarbon province offshore Sarawak, in water depths ranging from 100 m to 1,400 m.
The main prospect identified to date is Kertang, a four-way dip structural high prospect across four Oligo-Miocene reservoirs, with more than 220 sq km of closure. Analysis of 3D seismic acquired by CGG in 2015 has revealed direct hydrocarbon indicators, including an overlying gas cloud feature and amplitude brights.
ERCE estimates unrisked mean prospective resources at 9.1 Tcf of gas, with 146 MMbbl of NGL.
Seascape will retain a 10% interest via its subsidiary Topaz Number One, and it will be carried through the remaining exploration phase commitments, which include one firm well and one contingent appraisal well (subject to a commercial discovery).
Production from a future gas development could be exported to the Bintulu LNG onshore Sarawak.
