INPEX CORPORATION Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN
September 2, 2019
INPEX Enters Into New Production Sharing Contracts with
the Timor-Leste Government
Tokyo, Japan - INPEX CORPORATION(INPEX) announced today that it has, through its subsidiaries, entered into new production sharing contracts (PSC) with the government of Timor-Leste governing its projects in the former Joint Petroleum Development Area (JPDA) between Australia and Timor-Leste, in light of the delimitation of the maritime boundaries between Australia and Timor-Leste.
Bayu-Undan offshore facility
The Australian and Timor-Leste governments signed the maritime boundary treaty in March 2018. Following the ratification of the treaty, the JPDA has transitioned to Timor-Leste's exclusive maritime jurisdiction, and old PSCs under the JPDA framework have been terminated.
INPEX is currently involved in three projects within Timor-Leste's exclusive maritime
Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN
jurisdiction including development of the Bayu-Undan Gas Condensate Field. The three projects will continue to be operated under terms equivalent to the previous arrangements.
The impact of this matter on the company's consolidated financial results is nil.
INPEX assets in Timor-Leste's exclusive maritime jurisdiction
Bayu-Undan Gas Condensate Field
Previous block title | JPDA 03-12/03-13 | |
New block title | PSC-TL-SO-T19-12/PSC-TL-SO-T19-13 | |
Project Status | Production | |
Shareholders and shareholding | ConocoPhillips (Operator): | 56.943372% |
ratio (Unitization) | Santos : | 11.494535% |
INPEX: | 11.378120% | |
Eni: | 10.985973% | |
Tokyo Timor Sea Resources: | 9.198000% | |
Kitan Oil Field | ||
Previous block title | JPDA 06-105 | |
New block title | PSC-TL-SO-T19-10 | |
Project Status | Production suspended | |
Shareholders and shareholding | Eni (Operator) : | 40% |
ratio | INPEX: | 35% |
Repsol: | 25% | |
PSC-TL-SO-T19-11 | ||
Previous block title | JPDA 11-106 | |
New block title | PSC-TL-SO-T19-11 | |
Project Status | Exploration | |
Shareholders and shareholding | Eni (Operator) : | 40.53% |
ratio | INPEX: | 35.47% |
Timor Gap: | 24% |
About INPEX
INPEX CORPORATION is Japan's largest exploration and production (E&P) company, and a mid-tier E&P player just behind the world's oil majors. INPEX is currently involved in
Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN
approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as Operator. Through sustainably growing its oil and gas development business, developing a global gas value chain business and reinforcing its renewable energy initiatives, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers. For more information, visit https://www.inpex.co.jp/english/index.html.
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233
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Inpex Corporation published this content on 02 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 September 2019 00:26:03 UTC
