INPEX CORPORATION has announced that through its subsidiary, INPEX Mirai Upstream, it has entered a sales and purchase agreement with PetroChina International Investment (Australia) (CNPC) to acquire CNPC’s 10.67 percent participating interest in the Browse joint venture, including the Browse titles covering the Brecknock, Calliance and Torosa gas fields offshore Western Australia.
Completion of the sales and purchase transaction is conditional on a number of matters including regulatory and Browse joint venture participant approvals.
The development of Browse has the potential to make a significant contribution to energy security in Australia and in the Asia-Pacific region. The Browse fields, which were discovered between 1971 and 2000, contain a combined contingent resource of about 13.9 trillion cubic feet of dry gas and approximately 390 million barrels of condensate.
INPEX has been a proud participant in the Australian business community since 1986. The company’s Australian energy portfolio includes Ichthys LNG as operator, and participating interests in Prelude FLNG, Darwin LNG, Van Gogh and Ravensworth.
Source: INPEX
