Inpex has agreed to acquire a 10.67% participating interest in the Browse joint venture offshore Western Australia from PetroChina International Investment (Australia) – CNPC.
The Japanese energy company said subsidiary Inpex Mirai Upstream signed a sales and purchase agreement with CNPC covering the Browse titles associated with the Brecknock, Calliance and Torosa gas fields.
Completion of the transaction remains subject to regulatory approvals and approvals from Browse joint venture participants, Inpex said.
The company said the Browse development has the potential to contribute to energy security in Australia and across the Asia-Pacific region.
The Browse fields, discovered between 1971 and 2000, contain combined contingent resources of around 13.9 trillion cubic feet of dry gas and about 390 million barrels of condensate, according to Inpex.
Inpex’s Australian portfolio includes operator status in Ichthys LNG and interests in Prelude FLNG, Darwin LNG, Van Gogh and Ravensworth.