INPEX CORPORATION (INPEX) announced today that through its group company INPEX Cash Maple Pty Ltd 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 Pty Ltd (a subsidiary of CPC Corporation, Taiwan), Osaka Gas Ichthys Pty Ltd (a subsidiary of Osaka Gas Co., Ltd.) and Toho Gas Ichthys Development Pty Ltd (a subsidiary of TOHO GAS Co., Ltd.), 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 square kilometers, where the water depth ranges between
approximately 120 and 240 meters. The block lies approximately 250 kilometers 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 is minimal.
AC/RL7 Block Participating Interest
Before transfer
INPEX Cash Maple Pty Ltd 74 percent
Total Energies Exploration Australia Pty Ltd 26 percent
After transfer
INPEX Cash Maple Pty Ltd 69.755 percent
Total Energies Exploration Australia Pty Ltd 26.000 percent
OPIC Australia Pty Ltd 2.625 percent
Osaka Gas Ichthys Pty Ltd 1.200 percent
Toho Gas Ichthys Development Pty Ltd 0.420 percent
