Seascape Energy Asia PLC Secures Major Contract in Malaysia
On June 17, 2025, Malaysia awarded the Temaris Cluster small field production contract to Seascape Energy Asia PLC, a UK-based company listed on the Boerse Stuttgart. The contract was granted to Seascape’s wholly-owned subsidiary, Seascape Energy Asia (One) Sdn Bhd, marking its first operational venture in Malaysia’s upstream oil and gas sector. This development was announced by Malaysia’s national oil and gas company, Petroliam Nasional Bhd (Petronas).
The Temaris Cluster, located offshore Peninsular Malaysia, includes the Tembakau and Mengkuang gas fields. The project is expected to produce approximately 100 million standard cubic feet of gas daily, with first production anticipated by 2029. This initiative is part of Malaysia’s broader strategy to enhance energy security and promote sustainable growth within the industry.
According to Petronas’ unit, Malaysia Petroleum Management (MPM), the Temaris Cluster benefits from proximity to existing production infrastructure, which is expected to lead to cost efficiencies and expedited resource monetization. MPM senior vice-president Datuk Ir Bacho Pilong emphasized that this project is a significant milestone in supporting the nation’s energy goals and fostering development in the upstream sector.
Seascape Energy Asia PLC, with a market capitalization of 23,093,801 EUR and a close price of 0.394 EUR as of June 12, 2025, is poised to expand its operations through this contract. The Temaris Cluster represents the second production contract awarded under the Malaysia Bid Round 2025, highlighting the company’s growing presence in the region.
In related developments, Petronas has also signed technical evaluation agreements with AFED TEXCAL Energy Ventures for the Langkasuka Basin in the Straits of Malacca, and with POSCO International, further underscoring its commitment to advancing Malaysia’s energy sector.