INPEX-led Bonaparte CCS Assessment Awarded Acreage in Australia

By INPEX Corporation | August 24, 2022

INPEX CORPORATION (“INPEX”) announced today that through INPEX Browse E&P Pty Ltd (INPEX Browse), a subsidiary, it has been jointly awarded a greenhouse gas storage assessment permit (title G-7-AP) with TotalEnergies CCS Australia Pty Ltd and Woodside Energy Ltd, in a joint venture known as Bonaparte CCS Assessment, following Australia’s 2021 Offshore Greenhouse Gas Storage Acreage Release.

The Block is located in the Bonaparte Basin off the northwestern coast of the Northern Territory of Australia, an area considered to be promising for geological storage of carbon dioxide in service of carbon dioxide capture and storage (CCS) activities. The Block’s water depth ranges between approximately 30 and 75 meters.

INPEX Browse will hold a 53 percent participating interest in the Block as Operator, where it will henceforth pursue evaluation and appraisal work in cooperation with TotalEnergies CCS Australia Pty Ltd and Woodside Energy Ltd as Bonaparte CCS Assessment.

The INPEX-operated Ichthys LNG would be a natural user of this CCS solution as it seeks to reduce its GHG emissions through making use of carbon capture and storage opportunities. This project provides an opportunity to prove up a large-scale carbon storage site for the Darwin-based, carbon capture, utilization and storage (CCUS) Hub proposed by the Northern Territory Government and has the potential to become one of the largest CCS projects in the world.

As Operator of both Bonaparte CCS Assessment and Ichthys joint ventures, INPEX is ideally placed to champion CCS activities in northern Australia.

INPEX believes this project will contribute to a cleaner energy future and seeks to cooperate not only with its partner companies but also with the governments of Australia and Japan.

The company will continue to resolutely pursue business development in Australia, one of its core business areas. INPEX will also proactively engage in energy structure reforms towards the realization of a net-zero carbon society by 2050, while providing a stable supply of diverse and clean energy and responding to the energy demands of Japan and other countries around the world through making its oil and natural gas business cleaner, as outlined in its Long-term Strategy and Medium-term Business Plan (INPEX Vision @2022) formulated in February 2022.

The impact of this acquisition on INPEX’s consolidated financial results is minimal.

About INPEX

INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. Through building a cleaner upstream business and advancing hydrogen and renewables solutions, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers while pioneering energy transformation towards a net zero carbon society by 2050. For more information, visit https://www.inpex.co.jp/english/index.html.