Malaysia’s state-owned oil & gas company Petronas has granted Seascape Energy, an E&P company focused on Southeast Asia, a 45% extension of its shallow-water production sharing contract (PSC) area offshore Peninsular Malaysia.
Temaris, for which Seascape Energy secured the PSC in June 2025 as part of the Discovered Resource Opportunity element of MBR 2025, comprises two gas discoveries and significant exploration potential in around 70 meters of water depth on the western flank of the Malay basin covering an original area of approximately 1,200 sq km.
The company then performed an extensive subsurface review of Temaris and the surrounding area and completed a 3D seismic reprocessing project which resulted in the identification of a significant extension of the high-quality, Miocene channelised sandstone play proven by the Tembakau and Mengkuang gas discoveries.
In its letter of agreement (LoA) delivered via Malaysia Petroleum Management (MPM), Petronas has granted a 547 sq km areal extension to the north and east of the Temaris Cluster Small Field Asset PSC, increasing the total PSC area to approximately 1,770 sq km, a 45% uplift, and stating the importance of pursuing these significant resources under a single, unified PSC.
"This is a welcome portfolio addition at a time when macro events are leading the industry to re-think its strategic priorities. The value of Asian gas into Asian markets is starting to become clear, and the attractions of scarce, high-quality exploration opportunities in stable jurisdictions with strong, high-growth, high demand markets is becoming very apparent," said Pierre Eliet, Seascape Energy's Malaysia Country Chair and Executive Director.
"This acreage expansion enhances the value of our Temaris asset, capturing more of the play and adding breadth and depth to our prospect inventory. It also demonstrates the belief the regulator has in Seascape to continue to develop the technical understanding of the play and its confidence in the Company as an operator in the Malay basin."
The additional work commitment to the area extension will include the processing of the new 3D seismic and the drilling of a contingent exploration well. The firm financial commitment will be met through Seascape's existing cash resources and the Temaris Area Extension remains subject to the execution of final documentation.
Sproule ERCE has been appointed to undertake an update to the original Competent Person's Report (CPR), which had already identified 950 bcf of gross mean prospective resources on the Temaris PSC across a number of trapping styles and horizons, with the updated report anticipated to be published in Q4 2026.
Seascape has also restarted the Temaris farm-out process with the benefit of the enlarged prospectivity, after it had previously paused the process due to the confidential nature of the Temaris Area Extension.
The company noted that there is strong interest in the process and that the aim is to introduce a partner into the Temaris PSC prior to the field development plan (FDAP) submission in late Q4 2026.