Wedoany.com Report-Dec 05, 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.