Inpex Buys Into Australia Offshore Block

Inpex has acquired a 50% participating interest, together with the operatorship, in the exploration block AC/P36 offshore Western Australia from Australian subsidiaries of Murphy Oil Corporation. 

The block is located approximately 550 km north-northeast of Broome, off the coast of Western Australia, and covers an area of 1,950 square km, with a water depth ranging from 250m to 500m.

To the south of the lie several large gas-condensate fields, including the Ichthys gas-condensate field which Inpex operates and is developing as the large-scale Ichthys LNG Project, and the Prelude and Concerto gas fields which INPEX and Shell are developing as the Prelude FLNG Project. 

 Inpex will operate AC/P36 with a 50% participating interest while Murphy holds the remaining 50% participating interest, and plans to carry out exploration activities including drilling of one exploratory well.