INPEX CORPORATION has announced that its subsidiary INPEX Browse E&P Pty Ltd (INPEX Browse) was awarded an exploration permit over release area AC22-1, now named AC/P71 (the Block) in Australia’s 2022 offshore petroleum exploration acreage release. INPEX Browse will be Operator and hold 100% working interest in the title.
The Block is located off the northern coast of Western Australia and covers a surface area of approximately 920 km2, in water depths ranging between approximately 100 and 300 m. INPEX Browse will henceforth pursue exploration activities as per the title obligations.
The Block is adjacent to the AC/RL7 Retention Lease in which INPEX acquired a 74% participating interest in 2023 and where natural gas and condensate fields have been discovered. The Block is therefore, considered to be in a promising exploration area.
As outlined in its long-term strategy and medium-term management plan (INPEX Vision @2022) formulated in February 2022, INPEX aims to achieve a stable supply of clean energy by focusing on core business areas, implementing a shift to natural gas and promoting resilience and decarbonizing its business in an integrated manner. The Block is located to the north of and in the general vicinity of the Ichthys Gas-condensate Field, which supplies natural gas to the Ichthys LNG Project where safe and stable production operations are ongoing under the operatorship of INPEX in cooperation with its project partners. Therefore, success in this exploration permit will contribute to enhancing the project’s resilience.
Read the article online at: https://www.oilfieldtechnology.com/exploration/21082024/inpex-awarded-exploration-block-acp71-offshore-western-australia/