INPEX said it has been granted the Permit WA-494-P (the Block) at the Australian Offshore Petroleum Acreage Release 2012, through its subsidiary INPEX Browse Ltd.
The Block is located approximately 400km north-northeast of Broome, off the coast of Western Australia, and covers an area of 305km2 with a water depth of approximately 190m to 250m. Adjacent to the Block, there are promising gas reserves discovered and under development, where INPEX operates the Ichthys gas-condensate field and Shell operates the Prelude and Concerto gas fields which envision a development under an FLNG concept. INPEX will hold a 100% participating interest in the Block and conduct the exploration activities as the operator.
Participating in the Block will enhance INPEX’s exploration and development activities in Asia-Oceania, one of its core business areas. Focusing on the exploration activities around the Ichthys gas-condensate field is one of the measures to pursue potential synergy with Ichthys LNG project. INPEX will continue to expand its exploration and development activities in the Asia-Oceania region.
[mappress] LNG World News Staff, June 10, 2013; Image: INPEX