Abstract
In 1998, INPEX acquired the petroleum exploration permit WA-285-P, located in the Browse Basin, approximately 820 kilometres south-west of Darwin. During 2000 to 2001, three exploratory wells resulted in the discovery of gas and condensate field now known as the Ichthys Field. Field reserves are estimated to be producible for 40 years of gas and condensate. In 2006, INPEX transferred a 24% participating interest in the Ichthys Project to TOTAL. INPEX is the Operator of the Project.
Gas from the Ichthys Field will undergo preliminary processing at the offshore central processing facility (CPF) to remove water and raw liquids, including a large proportion of the condensate. This condensate will be pumped to a floating production, storage and offloading (FPSO) facility anchored nearby, from which it will be transferred to tankers for delivery to markets. The gas will be transported from the CPF through a subsea pipeline more than 885 kilometres to the onshore LNG processing plant proposed for Blaydin Point at Darwin, Northern Territory.
After Final Investment Decision (FID) based on FID conditions such as major governmental approvals, securing marketing for the entire LNG production and sufficient confirmation of lender's intension, construction phase will commence to target on 1st production end of 2016. The Ichthys Project will have an initial capacity to produce 8.4 million tonnes of LNG per annum and 1.6 million tonnes of liquefied petroleum gas (LPG) per annum, as well as approximately 100,000 barrels of condensate per day at peak.
In proceeding with the Ichthys Project, INPEX have built a relationship of mutual understanding with governments, local communities and other stakeholders. Execution and operation of the Ichthys project will achieve the establishment of gas supply chain in Japan and contribute to achieving a stable and efficient energy supply.
