INPEX Inks PSC for 11-106 Contract Area Offshore Australia

INPEX said that through its wholly – owned subsidiary INPEX Offshore Timor – Leste, Ltd., it has signed a new Production Sharing Contract (PSC) for the JPDA 11 – 106 contract area of the Joint Petroleum Development Area (JPDA), which is jointly administered by the Democratic Republic of Timor – Leste and the Commonwealth of Australia , with Eni JPDA 11 – 106 B.V. and TIMOR GAP, E.P., through its wholly owned subsidiary, TIMOR GAP PSC 11 – 106 Unipessoal, Ltd.

The Contract Area is located approximately 240km south of Dili, the capital of Timor – Leste, and 500 km northwest of Darwin, Australia.

The Contract Area covers 662 km 2 with a water depth ranging from 100m to 500m, and will be explored and developed by the joint venture partners – Eni (40 .53 %) as the Operator , TIMOR GAP (24 .00 %) and INPEX Offshore Timor – Leste, Ltd. (35 .47 %).

In addition to The Contract Area, INPEX has been carrying out exploration, development and production activities in the JPD A and Australia including the large – scale Ichthys LNG Project, Van Gogh and Ravensworth crude oil production projects, Bayu – Undan condensate project, Darwin LNG and the Kitan oil field which commenced production in October 2011.

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LNG World News Staff, April 15, 2013; Image: INPEX