INPEX CORPORATION (INPEX) announced that the Bonaparte CCS Assessment Joint Venture (hereinafter “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 been awarded Major Project Status by the Australian Government. The Bonaparte CCS Project (hereinafter “project”) is the first offshore carbon capture and storage project to receive Major Project Status in Australia.

The awarding was announced today by Australian Minister for Industry and Innovation, Senator the Hon Tim Ayres and highlights the project’s recognised potential to support a lower carbon future as well as reflecting the Australian government’s acknowledgment of the project’s strategic importance in achieving Australia’s net zero goals.

Appraisal works in 2024 confirmed a high-quality saline aquifer reservoir suitable for safe and permanent carbon storage in the Bonaparte Basin, approximately 250 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, and it could substantially contribute to decarbonizing northern Australia and the Asia-Pacific region.

The Joint Venture intends to transport and store carbon dioxide (CO2) safely and permanently in the Bonaparte Basin, which has a potential carbon storage capacity of more than 10 million tons per year. The Joint Venture commenced preliminary front-end engineering design (FEED) work in April 2025 and plans to commence CO2 injection around 2030.

The Joint Venture is also now conducting detailed analysis of the reservoir appraisal data, to support a Declaration of Identified GHG Storage Formation application in advance of obtaining a greenhouse gas injection licence. On behalf of the Joint Venture, INPEX will continue engaging closely with the local community and the Australian and Northern Territory governments to advance the project.

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 Energy

Woodside is a global energy company. Driven by a spirit of innovation and determination, we established the liquefied natural gas industry in Australia in the 1980s. We have safely and reliably delivered gas to homes and businesses in Australia and customers around the world for decades, supporting the development of industry and driving economic prosperity. Today, our strategy is to thrive through the energy transition with a resilient and diversified portfolio of oil, gas and new energy projects in Australia, North America and Africa.