Inpex granted renewal of exploration permit around Ichthys production license

The Australian National Offshore Titles Administrator (NOTA) has granted Japanese-led group Inpex a renewal of its Browse basin exploration permit WA-285-P offshore Western Australia.

The permit surrounds production license WA-51-L which contains the producing Ichthys gas and condensate field.

The exploration permit was originally granted in 1998. The renewal will enable Inpex to continue exploration until mid-2025, although current conditions have caused a delay in the next proposed drilling program.

Inpex awarded Halliburton a drilling contract for the next phase of appraisal-development of potential Ichthys field extensions in January with the 3-year program scheduled to begin in March.

The industry downturn in the wake of the COVID-19 and oil price slump, however, has forced Inpex to delay its plans and a new start date has not yet been provided.

Ichthys field lies in 280 m of water and contains 12 tcf of gas and 500 million bbl of condensate.

Inpex has 30% interest with Total holding 26%. The remaining interest holders are CPC Corp., Tokyo Gas, Osaka Gas, Kansai Electric Power, JERA, and Toho Gas.