Japan’s Inpex has announced that through a subsidiary, it was awarded an exploration permit for Release Area AC/P66 (the Block) as operator in Australia’s 2018 offshore petroleum exploration acreage release.
The Block is located in the Bonaparte Basin of the North West Shelf of Australia and covers a surface area of 3,460 square kilometers. The Block’s water depth ranges between approximately 60 and 500 meters. The Block lies in the vicinity of discovered and developed oil fields including the Laminaria oil field, and is considered to be a promising area where further hydrocarbon discoveries are believed possible.
Inpex will hold a 100 per cent participating interest in the Block where it will henceforth pursue exploration activities.