INPEX CORPORATION (INPEX) announced that the Bonaparte CCS Joint Venture operated by its subsidiary INPEX Browse E&P Pty Ltd (53 percent) and also involving TotalEnergies CCS Australia Pty Ltd (26 percent) and Woodside Energy Ltd (21 percent) has commenced pre-front-end engineering design (pre-FEED) work to support development of the Bonaparte CCS Project located in the Bonaparte Basin, approximately 260 kilometers offshore Darwin in the Northern Territory of Australia. INPEX considers the project has potential to be one of the largest commercial carbon capture and storage (CCS) projects in the world.

The Bonaparte CCS Joint Venture was formed in 2022 to appraise greenhouse gas (GHG) storage assessment acreage G-7-AP.

The decision to commence pre-FEED work follows the successful completion of the selection of engineering concept and a comprehensive appraisal program, which included up to 1,800 square kilometers of three-dimensional seismic surveying and two CCS appraisal wells. The program confirmed the presence of a high-quality saline aquifer reservoir in the Bonaparte Basin with thick sealing formations considered suitable for safe and permanent carbon storage.

The Bonaparte CCS Joint Venture intends to transport and store carbon dioxide (CO2) safely and permanently offshore northern Australia in the Bonaparte Basin, which has a potential carbon storage capacity of more than 10 million tons per year. The Joint Venture plans to commence CO2 injection around 2030 and expects the project to substantially contribute to decarbonizing northern Australia and the Asia-Pacific region.

The Joint Venture is now conducting detailed analysis of the reservoir appraisal data to support a declaration of identified GHG storage formation application in advance of obtaining a GHG injection license.

The Ichthys Joint Venture is expected to be the anchor customer of Bonaparte CCS.

About INPEX

INPEX is Japan’s largest exploration and production (E&P) company, engaged in the development and operation of oil and gas projects worldwide. We are committed to contributing to a brighter future by delivering energy in a sustainable way. As part of this commitment, we are also engaging in lower-carbon solutions such as CCS, hydrogen and integrated power supply, while pursuing new opportunities in the evolving energy landscape.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

About Woodside

Woodside is a global energy company providing reliable and affordable energy to help people lead better lives. We leverage our track record of world-class project execution and operational excellence as we build a diverse global portfolio to meet the world’s growing energy needs. We have over 35 years of experience in the LNG industry including pioneering Australia's LNG industry as operator of the North West Shelf Project where we shipped our first LNG cargo to Japan in 1989. We are executing major projects today, while pursuing growth opportunities that will deliver long-term value for our shareholders. We maintain a strong balance sheet and a disciplined investment approach.