Japan’s largest exploration and production company Inpex Corporation has announced that through a subsidiary, it was awarded an exploration permit for Release Area AC/P66 (the Block) as operator in Australia’s 2018 offshore petroleum exploration acreage release.
The AC/P66 block on the North West Shelf covers an area of 3,460 sq km (1,336 sq mi), in water depths of 60-500 m (187-1,640 ft).
The Block lies in the vicinity of discovered and developed oil fields including the Laminaria oil field, and is considered to be a promising area where further hydrocarbon discoveries are believed possible.
Inpex will hold a 100% participating interest in the Block where it will henceforth pursue exploration activities.
The “sustainable growth of oil and natural gas E&P activities” is one of the company’s goals outlined in Vision 2040, and the North West Shelf of Australia is positioned as one of Inpex's priority exploration areas. The awarding of the Block is aligned to Inpex’s strategic policies.
Inpex is involved in multiple oil and natural gas development projects in Australia including the Ichthys LNG Project, of which it is the Operator, and will continue to proactively pursue business development opportunities in the country.
Inpex is currently involved in approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as Operator.