The Block is located in the Bonaparte Basin of the North West Shelf of Australia and covers a surface area of 3460 km2. The Block’s water depth ranges between approximately 60 and 500 m. The Block lies in the vicinity of discovered and developed oil fields including the Laminaria oil field, and is considered to be a promising area where further hydrocarbon discoveries are believed possible. INPEX will hold a 100% participating interest in the Block where it will henceforth pursue exploration activities.
The “sustainable growth of oil and natural gas E&P activities” is one of the company’s goals Location of Exploration Block AC/P66 outlined in Vision 2040, and the North West Shelf of Australia is positioned as one of INPEX's priority exploration areas. The awarding of the Block is aligned to INPEX’s strategic policies.
Read the article online at: https://www.oilfieldtechnology.com/exploration/15072019/inpex-awarded-exploration-block-in-the-north-west-shelf-australia/