Inpex to Acquire Stake in Australia's Browse Gas Project
Japanese exploration and production company Inpex has initiated steps to join the Browse joint venture, a major offshore gas development project in Western Australia. Through its subsidiary, Inpex Mirai Upstream, the company signed a sales and purchase agreement to acquire a 10.67% participating interest from PetroChina International Investment. The transaction, which is subject to regulatory and joint venture approvals, covers titles for the Brecknock, Calliance, and Torosa gas fields. Described as Australia’s largest untapped conventional gas resource, the Browse fields hold an estimated 13.9 trillion cubic feet of dry gas and 390 million barrels of condensate. The project aims to backfill the declining North West Shelf infrastructure and is projected to contribute significantly to regional energy security. Economic assessments suggest the Browse to North West Shelf project could boost Western Australia’s gross state product by A$147 billion and national GDP by over A$141 billion. This acquisition expands Inpex’s existing Australian portfolio, which includes the Ichthys LNG and Prelude FLNG projects, reinforcing its strategic position in the Asia-Pacific energy market.
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