INPEX has announced today that through its group company INPEX Cash Maple it has signed a sales and purchase agreement to transfer 2.625 percent, 1.20 percent and 0.42 percent of its participating interest in the AC/RL7 block in Australia to OPIC Australia (a subsidiary of CPC Corporation, Taiwan), Osaka Gas Ichthys (a subsidiary of Osaka Gas) and Toho Gas Ichthys Development (a subsidiary of TOHO GAS), respectively. The completion of the transaction is conditional on regulatory approvals.
The AC/RL7 block is located off the northern coast of Western Australia and covers a surface area of approximately 418 sq kms, where the water depth ranges between approx. 120 and 240 meters. The block lies approximately 250 kms northeast of the Ichthys Gas-condensate Field, which supplies natural gas to the Ichthys LNG Project where safe and stable production operations are ongoing under the operatorship of INPEX in cooperation with its project partners. Notably, natural gas and condensate fields have been discovered at the AC/RL7 block, raising expectations that the block will contribute to enhancing the project’s resilience and stable output.
The impact of this transaction on INPEX’s consolidated financial results for fiscal year 2024 isminimal.
Source: INPEX
