Inpex Secures Stakes in 2 Exploration Permits Offshore Western Australia

Japan's Inpex Corporation announced Tuesday that Inpex Browse E&P Pty Ltd (Inpex Browse), a subsidiary, was awarded exploration permits for Release Areas WA-513-P and WA-514-P (the Blocks) offshore Western Australia. Inpex Browse will hold a 40 percent participating interest in the Blocks while Santos, the Operator, will hold a 60 percent participating interest.

Blocks WA-513-P and WA-514-P cover an area of 129 square miles (335 square kilometers) and 160 square miles (415 square kilometers), respectively, where the water is approximately 984 to 1,312 feet (300 to 400 meters) deep, and are located about 310 miles (500 kilometers) north-northeast of Broome, off the coast of the state of Western Australia.

Inpex now holds 13 exploration permits or retention leases in the vicinity of the Ichthys gas-condensate field where as Operator it is developing the world-scale Ichthys liquefied natural gas (LNG) Project. Exploration of the Blocks will help Inpex maximize the potential value of the Ichthys LNG Project, in line with the company’s strategic objectives.

The Blocks are situated near large gas reserves that have been discovered, including the Ichthys gas-condensate field, as well as the Prelude and Concerto gas fields. Most recently, a gas discovery was made at the Lasseter-1/ST1 exploration well in block WA-274-P, partially adjacent to WA-513-P, as announced on Aug. 25, 2014.

Inpex is committed to further expanding its exploration and development activities in the Asia-Oceania region.

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