Inpex grabs exploration acreage offshore Norway

Japan’s Inpex, through its unit Inpex Norge snapped up two exploration licenses offshore Norway in Norway’s Awards in Predefined Areas (APA) 2018 licensing round.

Inpex grabbed licenses PL1027 located in the western Barents Sea offshore and PL1016 located in the northern Norwegian Sea, the company said in a statement.

The licenses provide the groundwork for Inpex’s third and fourth exploration projects in Norway following the company’s acquisition of exploration license PL950 in 2018, and are expected to contribute to the further enhancement of the company’s global project portfolio.

PL1027 is located in the western Barents Sea approximately 250 kilometers offshore Norway and covers a surface area of approximately 1,220 square kilometers where the water depth is approximately 440 meters.

PL1016 is located in the northern Norwegian Sea approximately 250 kilometers offshore Norway and covers a surface area of approximately 1,310 square kilometers where the water depth ranges between approximately 350 and 1,000 meters.

Additionally, and also as a part of the APA 2018 licensing round, Inpex was awarded a 40 percent participating interest in exploration license PL767B, an extension area to exploration license PL767 in which Inpex acquired a 40 percent interest in 2017.