Inpex Corporation reported Friday that Inpex Browse E&P Pty Ltd (Inpex Browse), a subsidiary, was awarded an exploration permit for Release Area WA-504-P (the Block). Inpex Browse will hold a 40 percent participating interest in the Block while Santos will hold a 60 percent participating interest serving as Operator.
This is the 11th block in which Inpex holds exploration permits or retention leases in the vicinity of the Ichthys gas–condensate field, where Inpex as Operator is developing the world-scale Ichthys LNG Project. Exploration of the Block will Inpex maximize the potential value of the Ichthys LNG Project, in line with the company’s initiatives.
The Block is located approximately 310 miles (500 kilometers) north north-east of Broome, off the coast of the state of Western Australia. It covers an area of 32 square miles (83 square kilometers) where the water is approximately 1,312 feet (400 meters) deep.
The Block is situated northwest of large gas reserves that have been discovered, including the Ichthys gas–condensate field as well as the Prelude and Concerto gas fields.
The exploration permit covering the Block follows the WA-502-P exploration permit also awarded to Inpex Browse following the 2013 Australian Offshore Petroleum Acreage Release, as announced May 16.
Inpex is committed to further expanding its exploration and development activities in the Asia-Oceania region.