MALAYSIA — INPEX Corporation has announced a significant move in the energy sector by executing an agreement to acquire 100 per cent of the shares in Longboat Energy (2A) Limited, a subsidiary of Seascape Energy Asia plc.
This acquisition grants INPEX a 42.5 per cent participating interest in the Block 2A Production Sharing Contract, located off the coast of Sarawak, Malaysia.
The deal positions INPEX as the operator of the block, where it will engage in hydrocarbon exploration activities alongside partners Topaz Number One Limited, PETRONAS Carigali Sdn. Bhd. (PCSB), and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP).
The Block 2A site spans approximately 12,035 square kilometres and features water depths ranging from 180 to 1,390 metres.
This area is situated northwest of the Central Luconia hydrocarbon province, known for recent gas discoveries.
INPEX’s exploration efforts will adhere to title obligations as they seek to tap into the region’s hydrocarbon potential.
This acquisition aligns with INPEX‘s strategic objectives of securing a stable supply of clean energy while reinforcing its presence in Malaysia — one of its key operational areas.
The company aims to strengthen its existing relationships with PCSB and PSEP while establishing a new partnership with Seascape, which focuses on exploration and production in Southeast Asia.
The completion of this transaction is contingent upon meeting certain conditions, including obtaining approval from PETRONAS through Malaysia Petroleum Management.
With this acquisition, INPEX is poised to enhance its exploration capabilities and access promising prospects in the burgeoning Malaysian energy market.
