Inpex has signed an agreement with Seascape Energy Asia to acquire a 42.5% participating interest in Block 2A off the coast of Sarawak, Malaysia.
The block, covering approximately 12,035km², is situated in water depths ranging from 180m to 1,390m. It is located north-west of the Central Luconia hydrocarbon province and lies near recent gas discoveries.
The acquisition was made through an agreement with Seascape Energy Asia to acquire 100% of shares in Longboat Energy (2A), a Seascape subsidiary.
INPEX will assume operatorship and engage in hydrocarbon exploration activities in collaboration with partners Topaz Number One, PETRONAS Carigali and Petroleum Sarawak Exploration & Production.
Completion of the acquisition is contingent on approval by Petronas through Malaysia Petroleum Management (MPM).
This acquisition aligns with INPEX's goal of ensuring a stable supply of clean energy, focusing on core business areas such as Malaysia. It also strengthens ties with existing partners and establishes a new relationship with Seascape.
INPEX's operatorship is expected to provide long-term access to promising exploration prospects in the region.
Earlier this year, INPEX and JERA began a joint study to evaluate a potential Japan-Australia carbon capture and storage (CCS) value chain, aiming to capture CO₂ emissions in Japan and store them in Australia.
The collaboration with JERA covers the entire CCS value chain including separation technologies, transport methods, and conditions for shipping and receiving CO₂.
Petronas, through its MPM division, also signed two strategic memorandums of understanding (MOUs) to enhance technology and operational efficiency in Malaysia's exploration and production sector.
The agreements were finalised during ADIPEC 2024, which took place from 4–7 November in Abu Dhabi.
The first MOU with Schlumberger WTA Malaysia aims to enhance technical capabilities through the use of AI, machine learning and generative AI technologies.
The second MOU, involving Velesto Drilling and NOV, is focused on implementing NOV’s drilling automation system and robotics technology on Velesto-operated rigs.
