INPEX is involved in more than 70 projects across 27 countries and is an important player in world-class liquefied natural gas (LNG) projects such as Bontang LNG and Tangguh LNG in Indonesia.
Part of the Australian business community since 1986, we currently have a number of projects in the Carnarvon, Browse and Bonaparte basins, offshore Western Australia and the Northern Territory, including the large-scale Ichthys LNG Project and the Prelude FLNG Project. We are also partners in the producing oil projects Van Gogh and Ravensworth.
In the Australia-Timor Leste joint development area we have interests in the Kitan oil field, as well as the Bayu-Undan condensate project and associated onshore Darwin LNG plant.
Ichthys LNG Project
The Ichthys Field in the Browse Basin offshore Western Australia first demonstrated its potential to be a world-class gas project in 2000. Since then, most likely resource estimates have grown to 12.8 tcf of gas and 527 million barrels of high value condensate.
In September 2008, INPEX selected Darwin as the site for the LNG processing facility.
A Final Investment Decision (FID) on the Project was reached in January 2012.
The Ichthys Project will deliver significant social and economic benefits to Australia. The project will bring jobs and training, business opportunities, new infrastructure and advanced technology - building capacity for the nation’s energy industry.
The Ichthys Project is operated by INPEX in joint venture with major participant Total and Tokyo Gas, Osaka Gas and Toho Gas.
In January 1992, INPEX acquired an interest in JPDA06-105, located about 170km from the southeast coast of Timor-Leste and 550km northwest of Darwin in the Timor Sea Joint Petroleum Development Area (JPDA). The subsequent exploration resulted in the discoveries of oil in the Jahal structure in 1996 and in the Kuda Tasi structure in 2001. In March 2008, oil was discovered by the exploration well Kitan-1, and the presence of a potentially commercial oil accumulation was confirmed by the appraisal well Kitan-2 drilled later that month.
In April 2008, it was announced the Kitan Oil Field was of a sufficient scale to allow for commercial development, and in May of that year the field was approved as a development area. INPEX and its JV partners are proceeding with the development and facilities design for the field and oil production is expected to begin in Q4 2011.
The field will produce between 35,000 and 40,000 barrels per day (bpd) at peak and is expected to have a lifespan of about 7 years.
INPEX owns a 35% stake in the project.
In 1999, a final agreement on unitization of JPDA03-12 and the adjacent JPDA03-13 was reached between the interest holders, and joint development began in the Bayu-Undan gas-condensate field, which straddles both contract areas.
The Bayu-Undan surface facilities consist of three primary components:
Central Production and Processing complex
Unmanned Wellhead Platform
Floating Storage and Offloading facility (FSO)
The FSO is equipped with refrigeration, liquefaction, and gasification facilities and can store 130,000 cubic metres of condensate and 95,000 cubic metres combined of propane and butane (LPG). Production of condensate and LPG commenced in 2004.
Liquefied natural gas (LNG) sales agreements for the supply of 3 million tons annually were concluded with Tokyo Electric Power and Tokyo Gas in August 2005. Sales of LNG commenced in February 2006, which is produced from natural gas shipped via a 500km, 26-inch subsea pipeline to the Darwin LNG plant in Darwin, Northern Territory. The plant is operated by ConocoPhillips.
Oil production commenced in February 2010 at the offshore Van Gogh Field, 53km northwest of Exmouth Western Australia.
The average production rate is projected to be 40,000 barrels of oil per day. INPEX acquired an interest in WA-155-P in July 1999. The Van Gogh Field was discovered in 2003, at a water depth of approximately 400m, and developed in April 2007.
The Australian government granted a production licence WA-35-L in October 2008. The field has been developed with 10 production wells, two water injection wells and one gas injection well. The produced oil is processed and stored on a floating production, storage and offloading (FPSO) vessel “Ningaloo Vision.”
INPEX owns a 47.5% participating interest in the Van Gogh project and Apache Corporation owns the remaining interest as operator.
The Coniston oil field is located in the Coniston Unit, which is the unitisation area of parts of WA-35-L (excluding the Van Gogh Defined Area) and WA-44-R, located offshore Western Australia. The field is 6km north of the Van Gogh field.
In December 2011, INPEX made a Final Investment Decision on Coniston, with oil production anticipated to start in the fourth quarter of 2013. Oil from the field will be produced through subsea completion wells and processed and stored on the Van Gogh field FPSO vessel. First year production from the Coniston field is projected to be approximately 21,500 barrels of oil per day.
INPEX owns a 47.499% interest in the project and Apache Corporation owns the remaining interest as operator.
Crude oil production from the Ravensworth field came online in September 2010.
Ravensworth is located approximately 45km off the coast from Exmouth, Western Australia at a water depth of 210m. The field straddles two production licence areas - WA-43-L and WA-42-L.
The final investment decision concerning development of the Ravensworth field was made in November 2007, with development underway in conjunction with the fields located in the adjacent licence WA-42-L as part of the Pyranees project.
INPEX Alpha, Ltd. owns a 28.5% participating interest in the WA-43-L with Joint Venture partners BHP Billiton and Apache Corporation. BHP is the operator. WA-42-L is a Joint Venture between BHP Billiton and Apache Corporation.
The oil produced from WA-43-L is processed for offtake via the Pyranees FPSO which is owned by the WA-42-L Joint Venture, in accordance with the tie-in agreement between the WA-43-L and WA-42-L Joint Ventures.
In February 1989, INPEX acquired a 20% working interest in WA-210-P in offshore Western Australia. As a result of subsequent exploration activities, the Griffin Fields were discovered and production licence WA-10-L was granted by the Australian government. Commercial crude oil and natural gas production from these blocks commenced in January 1994. Over the next 15 years, output from the fields totalled 178 million barrels of crude oil equivalent. Commercial production ceased in October 2009. BHP Billiton was the operator.