INPEX to sell interest in Block WA-155-P (Part1) to Carnarvon
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
INPEX Corporation (INPEX) has announced that through its wholly-owned subsidiary, INPEX Alpha,Ltd., it has reached an agreement with Carnarvon Petroleum Ltd.for the sale of all its participating interest (28.5%) in Block WA-155-P (Part1)(The Block).
The sale is intended to help INPEX optimise its global asset portfolio.
The Block is located about 50 km offshore Western Australia, where the water is approximately 70 - 190 m deep. Quadrant Energy currently holds the remaining interest (71.5%) in the Block as the operator.
In 1999, INPEX acquired its interest in the Block and subsequently engaged in exploration work with its Block partners.
The impact of the sale, if any, on the consolidated financial results for the year ending March 31, 2016 is expected to be minimal.
Adapted from a press release by Louise MulhallRead the article online at: https://www.oilfieldtechnology.com/drilling-and-production/28012016/inpex-to-sell-interest-in-block-wa-155-p-part1-to-carnarvon/
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