Inpex : JOGMEC and INPEX Begin Joint Research for CCS Business Opportunity Assessment Aimed at GHG Emissions Reduction at Australian LNG Operation

Japan Organization for Metals and Energy Security

INPEX CORPORATION

December 6, 2022

JOGMEC and INPEX Begin Joint Research for CCS Business Opportunity

Assessment Aimed at GHG Emissions Reduction at Australian LNG Operation

Tokyo, Japan - Japan Organization for Metals and Energy Security (JOGMEC) and INPEX CORPORATION (INPEX) executed a Joint Research Agreement to evaluate the potential of the Bonaparte Basin to become a world-scale, carbon storage location. The joint agreement covers the Reiwa 4 (2022) fiscal year ~ Reiwa 7 (2025) fiscal year period.

The joint research between JOGMEC and INPEX will support INPEX as it assesses the feasibility of using GHG Permit G-7-AP1 for long-term geological storage of CO2. INPEX is the Operator for the Bonaparte CCS JV and is working with its joint venture partners to assess the potential for CCS in the permit. Success in this venture will provide for storage of CO2 from the Ichthys Project and support the realization of the Darwin-based,low-emissions carbon dioxide capture, utilization and storage (CCUS) Hub2 as proposed by the Northern Territory Government.

1. G-7-APparticipating interest holders include INPEX (Operator, 53%) TotalEnergies (26%) and Woodside Energy (21%).
2. The Commonwealth Scientific and Industrial Research Organisation (CSIRO) is leading the development of the Low-emissionsCCUS Hub business case, in collaboration with the Northern Territory Government and the INPEX-ledIchthys Joint Venture and other industry participants. The CCUS Hub could allow the Northern Territory to become a global leader in low-emissionsenergy exports and catalyze the growth of new sustainable industries.

Through their joint research, JOGMEC and INPEX will continue to promote technical development contributing to the reduction of GHG through CCS activities while helping reduce GHG emissions in Australia toward the realization of a net zero carbon society by 2050, a common goal shared by the governments of Japan and Australia. The parties will also continue to fulfill their responsibilities for the development and stable supply of energy.

Media Contacts:

JOGMEC: Japan Organization for Metals and Energy Security

Energy Business Unit TEL: [phone]

（URL）https://www.jogmec.go.jp/english/index.html INPEX: Public Relations Group TEL: [phone]（URL）https://www.inpex.co.jp/english/index.html

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