INPEX Awarded Exploration Block WA-533-P Offshore Western Australia
Tokyo, Japan - INPEX CORPORATION (INPEX announced today that through INPEX Browse E&P Pty Ltd (INPEX Browse), a subsidiary, it was individually awarded an exploration permit for Release Area WA-533-P (the Block) as Operator in Australia’s 2017 Offshore Petroleum Exploration Acreage Release. INPEX Browse will hold a 100% participating interest in the Block where it will henceforth pursue exploration activities.
The Block is located off the northern coast of Western Australia and covers a surface area of 12,402km2. The Block’s water depth ranges between approximately 50m and 600m.
The Block lies on an offshore extension of the onshore Canning Basin in Western Australia where promising oil and gas fields have been discovered and developed. The Block is therefore considered to be located in a highly promising exploration area where oil discoveries are expected.
With the awarding of this exploration permit, the total number of offshore exploration blocks held by INPEX Group companies in Australia increases to 22. INPEX’s proactive exploration activities in Australia are expected to contribute to the continuous enhancement of the company’s E&P activities, positioned as one of the growth targets outlined in INPEX’s medium- to long-term vision.
INPEX will continue to proactively pursue business development opportunities in Australia and the Asia-Oceania region.
The impact of this development on the company’s consolidated financial results is minimal*1.
*1 No impact on the consolidated financial results for the fiscal year ending March 2018.
INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and a mid-tier E&P player just behind the world’s oil majors. INPEX is currently involved in approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as Operator. Through sustainably growing its oil and gas development business, INPEX aims to become a top class international oil and gas E&P Company and continue providing a stable and efficient supply of energy to its customers. For more information, visit www.inpex.co.jp/english/index.html.
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233