INPEX CORPORATION (INPEX) announced that the commissioning of the INPEX-operated Ichthys LNG Project’s (the Project) Central Processing Facility (Ichthys Explorer) required for production start-up has been completed.
This milestone marks the completion of the necessary commissioning of all key onshore and offshore facilities for production start-up. The Project is scheduled to commence production of gas from the wellhead upon conducting final safety verifications, and will thereafter proceed with the shipment of cargoes towards the end of the first half (April to September 2018) of the current fiscal year.
INPEX will continue to work toward the success of the Ichthys LNG Project with the understanding and cooperation of all its stakeholders, including the project’s joint venture Ichthys Explorer
partners, the local communities, the Australian federal government and the governments of Western Australia and the Northern Territory.
The company’s forecasted consolidated financial results for the year ending March 2019, which include the expected revenue contributions from the Project, remain unchanged.
About the Ichthys LNG Project
The Ichthys LNG Project is a project led by INPEX (Operator, participating interest: 62.245%) alongside major partner TOTAL (participating interest: 30%) and the Australian subsidiaries of CPC Corporation, Taiwan (participating interest: 2.625%), Tokyo Gas (participating interest: 1.575%), Osaka Gas (participating interest: 1.2%), Kansai Electric Power (participating interest: 1.2%), JERA (participating interest: 0.735%) and Toho Gas (participating interest: 0.42%) that involves liquefying natural gas lifted from the Ichthys Gas-condensate Field offshore Western Australia at an onshore gas liquefaction plant constructed in Darwin, Northern Territory, and producing and shipping approximately 8.9 million tons of liquefied natural gas (LNG) and approximately 1.65 million tons of liquefied petroleum gas (LPG) per year, along with approximately 100,000 barrels of condensate per day at peak.
The Ichthys LNG Project is a large-scale LNG project by global standards, and is expected to be operational over a period of 40 years. In 1998, INPEX acquired an exploration permit in the block where the project is located, and following development studies including exploration, evaluation and FEED work, the company announced its final investment decision (FID) in January 2012.
About INPEX
INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and a mid-tier E&P player just behind the world’s oil majors. INPEX is currently involved in approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as Operator. Through sustainably growing its oil and gas development business, INPEX aims to become a top class international oil and gas E&P Company and continue providing a stable and efficient supply of energy to its customers.