INPEX Becomes Operator of Exploration Block Offshore Australia

INPEX Becomes Operator of Exploration Block Offshore Australia

Japan’s INPEX has through its subsidiary INPEX Browse, Ltd. acquired a 50% participating interest, together with the operatorship, in the exploration block AC/P36 offshore Western Australia from Australian subsidiaries of Murphy Oil Corporation.

AC/P36 is located approximately 550km north-northeast of Broome, off the coast of Western Australia, and covers an area of 1,950km2 , with a water depth ranging from 250m to 500m.

To the south of AC/P36 lie several large gas-condensate fields, including the Ichthys gas-condensate field which INPEX operates and is developing as the large-scale Ichthys LNG Project, and the Prelude and Concerto gas fields which INPEX and Shell are developing as the Prelude FLNG Project. Being operator of AC/P36, INPEX Browse will significantly contribute to further exploration work by utilizing the experience it has accumulated in the Ichthys LNG Project. INPEX Browse will operate AC/P36 with a 50% participating interest while Murphy holds the remaining 50% participating interest, and plans to carry out exploration activities including drilling of one exploratory well.

Participating in AC/P36 will contribute to the continuous enhancement of INPEX’s exploration and production activities in line with the “Medium- to Long-Term Vision of INPEX” announced last month. INPEX will be expanding its exploration and development activities in the Asia-Oceania region as one of its core business areas.

Press Release, June 28, 2012


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