Petronas has awarded Seascape Energy a 100% operated interest in a small field asset production sharing contract (PSC) offshore peninsular Malaysia.
Seascape Energy is an E&P company focused on Southeast Asia.
The award over the undeveloped Temaris Cluster was issued under the Malaysia Bid Round 2025. It also represents Seascape's first development operatorship.
Temaris, covering a 1,200-sq-km area, comprises two gas discoveries in ~70 m of water on the western flank of the Malay Basin.
Tembakau was discovered and appraised by Lundin Malaysia (now International Petroleum Corp.) during 2012-2014. The company also discovered the smaller Mengkuang Field in 2015.
According to Seascape, Tembakau is close to established infrastructure, the closest producing gas field being 47 km away.
The existing dataset includes full 3D seismic coverage, well logs, drillstem tests and well cores. The three main stacked reservoirs are Early-Mid Miocene channel sandstones imaged on 3D seismic, exhibiting a strong amplitude response.
The gas is dry with low levels of impurities and tested at substantial flow rates.
Mengkuang is 30 km northeast of Tembakau in Miocene sandstones that also demonstrate strong amplitude responses. The field was not tested at the time of discovery.
Previous disclosures indicated combined recoverable resources from the Temaris Cluster at over 250 Bcf (~42 MMboe), which could help offset a forecast decline in gas supplies to Peninsular Malaysia.
Seascape sees exploration upside after using modern geophysical techniques to identify channelized targets. It also expects further exploration potential to open up across the PSC and into adjoining open acreage.
Malaysia’s small field asset terms are designed to both simplify and incentivize fast-track development of smaller hydrocarbon accumulations with improved field economics compared with conventional PSC terms.
Seascape plans a low-cost development using a normally unmanned platform with minimal processing, with potential peak production of up to 100 MMcf/d.
The company must deliver a field development and abandonment plan within 18 months, and undertake subsurface studies and 3D seismic reprocessing. The financial commitment under the award is ~$2 million.
Seascape has asked Sproule-ERCE to perform a competent persons report to provide an independent assessment of contingent and prospective resources over both the Temaris Cluster and the offshore DEWA Complex Cluster, in which the company has a 28% non-operated interest.
