The Baram Delta Basin is located off the north coast of Borneo and straddles the maritime boundaries of Malaysia and Brunei. Historically, exploration activity focused on onshore and shelf prospects, but these plays are now largely drilled out. Explorers are now targeting deep (primarily HP/HT) gas on the shelf and the oil potential of the Tertiary deepwater play. Since 2009, explorers have added significant volumes totalling 1.55 bnboe, however value creation from exploration has been hard to achieve. Many outer deepwater discoveries hold sub-economic volumes. A lack of gas infrastructure capacity up to 2015 and distance of Sabah gas from MLNG facilities mean that operators struggled to commercialise gas finds. In the future, we expect a return to positive value creation from exploration and the Tertiary Deepwater is forecast to bring the big bulk of future value. Full details are available for download in pdf and xls format.