Longboat completes acquisition of Topaz, ups stake in Block 2A offshore Sarawak

Longboat Energy on December 21 announced the conclusion of its acquisition of Topaz Number One, a private entity. This move increases the company's working interest in the production sharing contract (PSC) covering Block 2A offshore Sarawak, Malaysia, to 52.5%.

Block 2A contains the Kertang gas prospect and is located in water depths ranging from 100 to 1,400 m. The Bintulu LNG plant, one of the world's largest LNG facilities, is situated onshore along the coast of Sarawak, complementing the strategic positioning of Block 2A.

Longboat said it has made the decision to accelerate the building of a full-cycle E&P business in southeast Asia through the acquisition of Topaz.  

In February 2023, Longboat Energy announced being awarded a 36.75% operated interest in the PSC for Block 2A, collaborating with Petronas (40%), Petroleum Sarawak Exploration & Production (7.5%), and Topaz (15.75%).