Longboat Energy, an E&P company active in Norway and Malaysia, has agreed to acquire privately held Topaz Number One Limited. The company is thereby increasing its working interest in the Production Sharing Contract over Block 2A offshore Sarawak, Malaysia to 52.5%.
Topaz’s sole asset is a 15.75% working interest in Block 2A. Longboat only entered the project in February 2023.
The block covers approximately 12,000 km2 and is located in water depths of between 100-1,400 meters.
According to Longboat Energy, the block contains a number of large prospects, with significant volume potential representing multiple trillions of cubic feet of gas.
“Following completion of the transaction, Longboat will hold a 52.5% interest in Block 2A. This will simplify the process towards an additional funding partner prior to drilling,” Longboat said.
The Topaz team, will join Longboat Energy, bringing extensive regional expertise and an established network.
“We are pleased to have increased our interest in the extensive and prospective Block 2A in deep water Sarawak. Sarawak has seen significant exploration success in recent years, and we are excited to play a role in the quest for additional gas resources in the area.” Helge Hammer, Chief Executive of Longboat Energy, said.
Source: Polaris
