INPEX Secures Exploration Block AC/P71 in Offshore Western Australia

INPEX CORPORATION (INPEX) has announced that its subsidiary, INPEX Browse E&P Pty Ltd (INPEX Browse), has been awarded an exploration permit for Release Area AC22-1, which is now designated as AC/P71, as part of Australia’s 2022 Offshore Petroleum Exploration Acreage Release. Under this permit, INPEX Browse will act as the Operator and hold a 100% working interest in the block.

The AC/P71 Block is situated offshore, off the northern coast of Western Australia. It spans approximately 920 square kilometers and is located in water depths ranging between 100 and 300 meters. INPEX Browse is now set to undertake exploration activities in this area in accordance with the permit’s requirements. The block’s proximity to the AC/RL7 Retention Lease, in which INPEX acquired a 74% participating interest in 2023, is noteworthy. This adjacent lease is known for its natural gas and condensate discoveries, indicating that AC/P71 is a promising site for further exploration.

INPEX’s Long-term Strategy and Medium-Term Management Plan, known as INPEX Vision @2022, established in February 2022, outlines the company’s commitment to ensuring a stable supply of clean energy. The strategy focuses on strengthening core business areas, transitioning to natural gas, and enhancing business resilience while integrating decarbonization efforts. The AC/P71 Block’s location is strategically advantageous, being near the Ichthys Gas-condensate Field. This field supplies natural gas to the Ichthys LNG Project, which operates under INPEX’s leadership alongside its project partners. The ongoing stable production of the Ichthys LNG Project is a testament to its operational success.

The success of exploration activities in the AC/P71 Block is expected to further bolster the resilience of the Ichthys LNG Project. This aligns with INPEX’s broader goals of supporting clean energy production and maintaining operational stability. The exploration of this new block is an integral part of INPEX’s efforts to expand its resources and enhance its contribution to the energy sector.

INPEX CORPORATION, Japan’s largest exploration and production (E&P) company, manages a range of global projects, notably serving as the Operator of the Ichthys LNG project in Australia. As part of its commitment to advancing cleaner energy practices, INPEX is actively working to improve the sustainability of its oil and gas operations. The company is expanding its efforts into five key net-zero business areas to drive energy transformation. INPEX’s goal is to ensure a stable and diverse supply of clean energy, encompassing oil, natural gas, hydrogen, ammonia, and renewables. By leading in these sectors, INPEX aims to pioneer the shift toward a more sustainable energy future.