The Prelude Floating LNG Project is located in the Browse Basin, about 475 kilometres north-east of Broome, Western Australia and neighbouring the Ichthys Field.
In March 2012, INPEX acquired a 17.5 per cent interest in the Shell-operated Project.
The Project includes development of the Prelude and Concerto fields using a floating LNG facility, the first of its kind in the world.
The Prelude project is expected to produce at least 3.6 million tonnes of LNG per annum, along with 400,000 tonnes of LPG per annum at peak and about 36,000 barrels of condensate per day at peak. First production is scheduled for 2017.