Seascape Energy Asia Plc (SEA): Temaris block gas development
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SEA Seascape Energy Asia Plc
29 Jan 2026 · Independent CPR upgraded prospective resources · −1% until the next step
These results, along with Tembakau, position Temaris to become a transformative gas hub for Peninsular Malaysia's growing energy demand.
24 Mar 2026 · Fundraise to fund development; farm-out targeted H1 2026 · +16% until the next step
Bring a strategic partner into Temaris through a farm-out process during H1 2026;
21 May 2026 · Farm-out still targeted H1 2026; FDAP in 2026 · −2% until the next step
Seek to bring a strategic partner into Temaris during the first half of 2026
25 Jun 2026 · FEED contracts awarded; partner process broadened · +7% until the next step
Seascape's ambition to introduce a high-quality partner into Temaris through a value-enhancing transaction remains unchanged and the Company looks forward to updating shareholders in due course.
25 Jun 2026 · Macquarie mandated; structuring over coming months · +7% until the next step
Seascape will work together with Macquarie over the coming months to structure and execute a multi-tranche, debt facility to meet development expenditure with availability linked to certain milestones
30 Sep 2026 · FEED awarded; farm-out restarted; FDAP Q4 2026 · +6% until the next step
Seascape has now restarted the Temaris farm-out process with the benefit of the enlarged prospectivity, a rapidly maturing FDAP and a supportive macro environment.
15 Oct 2026 · Acreage extension agreed in principle; farm-out restarted · +6% since
Seascape has now restarted the Temaris farm-out process with the benefit of the enlarged prospectivity, a rapidly maturing field development plan ("FDAP") and a supportive macro environment.
Temaris block gas development
Acreage extension agreed in principle; farm-out restarted
Next: FDAP submission, with farm-out partner ideally introduced before
Every step · 7
- 29 Jan 2026 Independent CPR upgraded prospective resources – These results, along with Tembakau, position Temaris to become a transformative gas hub for Peninsular Malaysia's growing energy demand. ↗
- 24 Mar 2026 Fundraise to fund development; farm-out targeted H1 2026 – Bring a strategic partner into Temaris through a farm-out process during H1 2026; ↗
- 21 May 2026 Farm-out still targeted H1 2026; FDAP in 2026 – Seek to bring a strategic partner into Temaris during the first half of 2026 ↗
- 25 Jun 2026 FEED contracts awarded; partner process broadened – Seascape's ambition to introduce a high-quality partner into Temaris through a value-enhancing transaction remains unchanged and the Company looks forward... ↗
- 25 Jun 2026 Macquarie mandated; structuring over coming months – Seascape will work together with Macquarie over the coming months to structure and execute a multi-tranche, debt facility to meet development expenditure... ↗
- 30 Sep 2026 FEED awarded; farm-out restarted; FDAP Q4 2026 – Seascape has now restarted the Temaris farm-out process with the benefit of the enlarged prospectivity, a rapidly maturing FDAP and a supportive macro environment. ↗
- 15 Oct 2026 Acreage extension agreed in principle; farm-out restarted – Seascape has now restarted the Temaris farm-out process with the benefit of the enlarged prospectivity, a rapidly maturing field development plan ("FDAP")... ↗
What is happening
Seascape Energy Asia Plc: Temaris block gas development – Acreage extension agreed in principle; farm-out restarted. ['Acreage extension agreed in principle; farm-out restarted']
- In short
- Temaris development progressed from FEED awards (since Jan 2026). The 30 Sep 2026 interims said FDAP was on track for Q4 2026, FEED contracts were awarded and the export route agreed. On 15 Oct 2026 PETRONAS issued a Letter of Agreement for a 547 sq km area extension (+45%, to ~1,770 sq km), subject to final documentation. The farm-out has restarted, aiming for a partner before FDAP; updated CPR due Q4 2026.
- Announced
- 29 Jan 2026 · Independent CPR upgraded prospective resources
- Latest
- 15 Oct 2026 · Acreage extension agreed in principle; farm-out restarted
- First production
- H2 2028 at plateau of 100 mmscfd (~17,000 boepd)
- Farm-out
- Restarted; aim to introduce a partner before FDAP submission in late Q4 2026
- Extra acreage
- Active negotiations with PETRONAS MPM; subject to final commercial agreement and approval in coming months
- Export route
- Third-party export route agreed; commercial discussions progressing
- Area extension
- 547 sq km; PSC rises ~45% to ~1,770 sq km; Letter of Agreement from PETRONAS MPM, 15 Oct 2026
- Conditions
- Subject to execution of final documentation
- Work commitment
- New 3D seismic processing and a contingent exploration well; funded from existing cash
- CPR update
- Sproule ERCE update commissioned; due Q4 2026; potential to double ~1 TCF prospective resources
What comes next
FDAP submission, with farm-out partner ideally introduced before.
From the company's own announcements. Not investment advice.
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