Inpex to Drill Exploration Well Offshore Japan in May 2016

Inpex Corp. announced Thursday it has been commissioned by the Agency of Natural Resources and Energy of the Ministry of Economy, Trade and Industry (METI) of Japan to drill one exploratory well for the agency’s “Heisei 26~28 Domestic Offshore Drilling Program in Japan”. The objective of the drilling project is to determine the presence of hydrocarbon deposits and conduct geological studies.

The exploratory well will be drilled in a location offshore Yamaguchi and Shimane prefectures where in 2011, the Japanese government conducted a geophysical survey from the seismic survey vessel Shigen as part of its Domestic Oil and Natural Gas Exploration Project, and where Inpex conducted a 3D geophysical survey in 2013 based on the earlier survey.

Inpex plans to drill the exploratory well beginning in May 2016 until August of the same year at a location approximately 87 miles (140 kilometers) north of Yamaguchi Prefecture and approximately 81 miles (130 kilometers) northwest of Shimane Prefecture, where the water is 689 feet (210 meters) deep. In preparation for this, the company will undertake a site survey in August to map the subsea surface and observe currents at the location. Inpex will prioritize safety throughout the planning and execution of the project, keeping local communities fully informed and calling on their cooperation.

Elsewhere in Japan, Inpex as Operator conducts development and production activities at the Minami-Nagaoka Gas Field in Niigata Prefecture, one of the country’s largest gas fields, as well as oil and natural gas production activities in Akita and Chiba prefectures.

Inpex’s undertaking of the project will be in line with the company’s initiatives to continuously enhance its E&P (exploration and production) activities, one of the growth targets in the medium- to long-term vision laid out in May 2012. If the project leads to the production of oil and natural gas at a commercially viable level, it will be expected to contribute to the improvement in Japan’s energy self-sufficiency.

Moving forward, Inpex will continue to actively engage in the efficient and effective utilization of Japan’s energy resources through new exploration and development projects within the country.