INPEX awarded an offshore exploration licence in the United Kingdom continental shelf

10/25/2013

INPEX awarded an offshore exploration licence in the United Kingdom continental shelf

MINATO -- Inpex Corporation has said that INPEX was successful in the 27th Seaward Licensing Round in United Kingdom, and was granted an offshore Exploration Licence P2019 in the North Sea, jointly with Centrica Resources and Statoil, in addition to the earlier awarded two licensces in the Round.

The P2019 Licence is located offshore 60km northwest of Shetland Island, to the north of the earlier awarded two Licences. The licence is Operated by Centrica who have a 35% participating interest while INPEX holds a 30% participating interest and Statoil holds a 35% participating interest respectively in the same manner as the existing two licences. The Joint venture plans to carry out seismic interpretation to explore for oil and  natural gas in these Licences.

The offshore area near the Shetland Islands, where the Licences INPEX acquired lie, is an area scarcely explored and INPEX hopes for a significant oil and natural gas discovery.

The success of this project should enhance INPEX’s asset portfolio and add to INPEX’s production volumes and reserves along the line with its "Medium- to Long-Term Vision of INPEX" announced in May 2012. INPEX hopes to further conduct exploration and development activities.

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