Production Start-Up and Development Timeline

Seascape Energy is advancing its Temaris Cluster offshore Peninsular Malaysia, with production start-up from the initial field expected in 2028. The Plan of Development for the Tembakau field is on track to be filed before the end of the year. Malaysia’s Agile Energy is conducting front-end engineering and design (FEED) work for the development, which targets reserves of approximately 250 billion cubic feet of gas, equivalent to over 40 million barrels of oil. Production is estimated at 100 million cubic feet per day, or about 17,000 barrels of oil equivalent per day, during 2028.

Development Design and Infrastructure

The Tembakau field will be developed using two unmanned platforms tied back to existing infrastructure. These platforms will be equipped with solar power to achieve near-zero emissions. Seascape aims to install the platforms using a jack-up rig, and the FEED process has focused on minimizing costs and accelerating timelines. The routing and sizing of the pipeline for Tembakau are designed to accommodate additional future volumes, ensuring extra capacity beyond initial production.

Exploration and Upside Potential

The Temaris Cluster includes two gas discoveries and significant exploration upside. Seascape also holds a 10% stake in the deepwater Block 2A production sharing contract offshore Sarawak, which hosts the Kertang giant gas prospect with resources pegged at 9 trillion cubic feet. Inpex, which farmed into Block 2A, will drill a commitment wildcat well on the tract, with the Kertang-1 well expected to be spudded in mid-2027. This $100 million-plus deepwater well is described as a seminal test for Malaysia, targeting a structure at the right depth to trap significant hydrocarbons.

Strategic Expansion and Partnerships

Seascape is seeking additional acreage in the southern Malay basin, north and east of Temaris, to supply gas into Peninsular Malaysia. The focus area includes the 2015 Mengkuang-1 discovery drilled by Lundin Petroleum. Agile Energy has supported Seascape through due diligence, feasibility studies, and the farm-out to Inpex. The pipeline infrastructure for Tembakau is being designed with extra capacity to integrate future resources, reflecting the project’s importance and the demand for additional gas.