London, July 2 (The Energy Circle) - Longboat Energy, a Southeast Asia-focused exploration and production (E&P) company, has announced the results of a competent persons report (CPR) for the Kertang prospect within Block 2A off Sarawak’s coast, confirming its immense scale.

ERC Equipoise conducted the CPR on the Kertang prospect, which is part of Longboat’s strategy to shift its focus from Norway to Southeast Asia. Longboat holds a 52.5% operated interest in the production sharing contract (PSC) for Block 2A, with Petronas and Petroleum Sarawak Exploration & Production (Petros) holding 40% and 7.5% interests, respectively.

The PSC includes a three-year term for minimal subsurface work followed by a two-year term requiring the drilling of a well to a depth of over 3,000 meters. The CPR confirmed the giant scale of the Kertang prospect, containing 9.1 trillion cubic feet (TCF) of unrisked mean prospective resources and 146 million barrels of natural gas liquids (NGLs) across its four target horizons.

Nick Ingrassia, Longboat’s CEO, expressed his satisfaction with the results, emphasizing Kertang as one of Malaysia’s largest undrilled structures. The Kertang prospect features well-defined structural highs and significant hydrocarbon indicators. Preliminary studies suggest that a single exploration well could test all target horizons.