Inpex Awarded Exploration Acreage Offshore W. Australia

Japan’s oil and gas company INPEX 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.