Seascape Energy has announced receipt of approval from its joint venture (JV) partners to enter the second exploration phase of the Deepwater Block 2A production sharing contract (PSC) off the coast of Sarawak, Malaysia.
This phase includes plans for drilling the Kertang prospect, pending formal approval from Petronas MPM.
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The JV partners include INPEX Malaysia E&P 2A, the operator, alongside Petronas Carigali and Petroleum Sarawak Exploration & Production.
They will now focus on securing a drilling rig and pinpointing the drilling site to test the Kertang prospect.
The Kertang structure has more than 200km² of four-way dip closure and total unrisked mean prospective resources of more than nine trillion cubic feet, based on a Competent Person’s Report undertaken by ERCE Sproule.
The Kertang well is set to be part of a broader deep-water exploration campaign across multiple Malaysian blocks in 2026 and 2027, undertaken by Block 2A operator Inpex.
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By GlobalDataThis second exploration phase involves a firm, minimum work commitment of one wildcat exploration well and one contingent appraisal well.
Seascape CEO Nick Ingrassia said: “The firm commitment to drilling the world-class Kertang prospect on Block 2A, one of the largest undrilled structures in Malaysia, is an important step not only for Seascape and the Block 2A partners but also for testing the significant potential for giant gas discoveries in the wider North Luconia basin, off the coast of Sarawak, offshore Malaysia.
“We would like to thank the operator, Inpex Corporation, our joint venture partners Petronas Carigali and Petros, along with Petronas MPM for the excellent work and collaborative approach in reaching this important point in such a short period of time.
“Seascape remains focused on maintaining momentum across its portfolio into 2026 and beyond, exposing shareholders to the significant upside available across its existing portfolio, including the recently secured Temaris PSC, and multiple growth opportunities it is currently pursuing.”
The block, originally awarded to Seascape Energy in February 2023 during the Malaysian Bid Round 2022, hosts the Kertang prospect.
It spans 12,000km² in the North Luconia hydrocarbon province, in water depths between 100m and 1,400m.
