EnQuest, Seascape Secure Stakes in DEWA Complex Cluster, Malaysia

Wedoany.com Report-Oct 22,EnQuest and Seascape Energy have been granted participating interests in a small field asset production sharing contract (SFA PSC) for the DEWA Complex Cluster, located off the coast of Sarawak, Malaysia.

The award was made through the Malaysia Bid Round Plus (MBR+) by Petroliam Nasional Berhad (Petronas) under the supervision of Malaysia Petroleum Management.

Seascape Energy, an upstream company focused on Southeast Asia, has secured a 28% stake, while EnQuest, a UK-based energy transition firm, will serve as the operator of the block, holding the largest share with 42%.

The remaining 30% stake will be held by Petroleum Sarawak Exploration & Production (PSEP).

EnQuest chief executive Amjad Bseisu said: “The block contains several undeveloped discoveries providing future opportunities for EnQuest to demonstrate its proven capabilities in innovative and cost-effective development. We would like to thank Petronas for their confidence in awarding us this PSC and are pleased to have our first joint venture with PSEP.”

The DEWA Complex Cluster SFA PSC comprises 12 discovered fields approximately 50km off the Sarawak coast, in water depths of 40-50m. The block is situated in a proven hydrocarbon region with undeveloped reserves, offering potential low-cost development opportunities to supply gas into the Sarawak system.

In the initial two-year pre-development phase, the partners will complete a resource assessment and submit a field development and abandonment plan (FDAP) for the first group of fields, estimated to hold up to 500 billion standard cubic feet (Bscf) of gas in place.

The 12 gas fields, discovered in shallow waters near existing infrastructure, include D30, D30W, Danau, Daya, Daya North, D41, D41W, Dafnah West, Dana, Darma, West Acis, and Spaoh. Gas was first discovered in 1982, but previous partnerships focused on oil production, leaving these fields undeveloped.

The partnership’s initial focus will be on the D30, Danau, D41, D41W, Dana, and Dafnah West fields. These fields generally feature clastic reservoirs with significant gas columns and good hydrocarbon mobility.

Available data includes 35 well penetrations, well logs, multiple drill stem tests (DSTs), modular formation dynamics tests (MDTs), and 3D seismic coverage.

Targeting a low-cost development plan due to shallow water depths and proximity to infrastructure, the partnership plans to use unmanned platforms with minimal processing, aiming for a production plateau of up to 100 million standard cubic feet per day (mmscfd).

The initial work commitment, approximately $0.6m net to Seascape Energy, involves completing the resource assessment and delivering the FDAP within two years. Development will follow the new small field asset terms, designed to simplify and incentivise swift development of smaller hydrocarbon reserves in Malaysia.

Seascape Energy executive chairman James Menzies said: “This award supports our recent decision to strategically pivot the business to focus on Southeast Asia. It builds on our existing position in Malaysia and in one step provides Seascape with an immediate portfolio of gas discoveries with over 500Bcf of in-place resources from four main fields with considerable upside.”