Inpex has been awarded an exploration permit for Release Area WA-532-P in the vicinity of the Ichthys gas-condensate field where Inpex is developing the Ichthys LNG project as operator.
The exploration block has been awarded to Inpex’s unit, Inpex Browse E&P in Australia’s 2016 Offshore Petroleum Exploration Acreage Release. Inpex Browse will hold a 100 percent participating interest in the Block where it will pursue exploration activities as operator.
Block WA-532-P located off the coast of Western Australia covers an area of 26,300 square kilometers where the water is approximately 60~250m deep.
Inpex added that promising gas fields have been discovered and are being developed in the vicinity of the block. The company expects that the block is located in a promising exploration area with a high potential for gas, condensate and oil accumulations.
With the awarding of this exploration permit, the total number of exploration blocks held by Inpex Group companies including Inpex Browse in the vicinity of the Ichthys gas-condensate field increases to 18.
Adding to its acreage near the Ichthys gas field is in line with the company’s policy of seeking to expand the future value of the Ichthys LNG project.