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Canada: Shale Gas Project

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Contract area(block) Project status Venture company(established) Interest owned(*Operator)
(As of June 30, 2016)
Horn River,
Cordova and Liard areas
In production
-partly
INPEX Gas British Columbia Ltd.
(November 28, 2011)
INPEX Gas British Columbia 40%
NEXEN* 60%
Shale Gas Project

In August 2012, INPEX acquired a 40% interest in the shale gas projects in the Horn River, Cordova and Liard basins in British Columbia, Canada, from Nexen Inc.

In the coming years, the Company will proceed with development work in the basins, which are currently partly in production, and implement studies to consider commercialization to export shale gas as LNG from the Canadian west coast.

Shale Gas Project

Drilling site

U.S. : Gulf of Mexico Projects and Others

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Contract area(block) Project status
(production on the basis of all fields and average rate of FY2015)
Venture company(established) Interest owned(*Operator)
(As of June 30, 2016)
Blocks 874/875/918/919
(Lucius Oil Field)
In production
-Crude oil: 71 Mbbl/d
-Natural gas: 74 MMcf/d
Teikoku Oil (North America) Co., Ltd.
(May 30, 2003)
Teikoku Oil (North America) 7.8%
Anadarko* 23.8%
Other 68.4%
Walker Ridge
Blocks 95/139
Under exploration
(Oil/gas reservoirs confirmed)
INPEX Gulf of Mexico Co., Ltd.
(April 28, 2010)
INPEX Gulf of Mexico 12.29%
Shell* 42.37%
Anadarko* 25%
Other 6.34%
(Operator: Anadarko (Block 95); Shell (Block 139))

In August 2012, INPEX joined the deepwater Lucius Oil Field in the Gulf of Mexico and acquired a 7.2% interest from U.S.-based Anadarko Petroleum Corporation. Oil and gas production at the Lucius Oil Field has proceeded steadily since its commencement in January 2015.

The Company first participated in the deepwater Walker Ridge 95/139 exploration block project in the Gulf of Mexico in February 2011. Having confirmed the presence of crude oil in an exploratory well, the Company is drilling a follow-up appraisal well.

Lucius Oil Field

Lucius Oil Field

Brazil: Frade Block, Other

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Contract area(block) Project status
(production on the basis of all fields and average rate of FY2015)
Venture company(established) Interest owned(*Operator)
(As of June 30, 2016)
Frade Project In production
-Crude oil: 23 Mbbl/d
-Natural gas: 2 MMcf/d
Frade Japao Petroleo Limitada (FJPL)
(July 5, 1999)
*Frade Japao Petroleo 18.2609%
*Chevron 51.7391%
Petrobras 30.0000%
BM-ES-23 Under exploration (Oil/gas reservoirs confirmed) INPEX Petroleo Santos
(January 19, 2007)
INPEX 15%
*Petrobras 65%
Shell 20%

A joint venture established by INPEX and Sojitz Corporation, Frade Japão Petróleo Limitada (FJPL) acquired an interest in the Frade Block in Brazil’s offshore Northern Campos basin in July 1999. Commercial production started in June 2009. Crude oil production was temporarily suspended in March 2012 due to the presence of a small oil sheen but safely resumed at the end of April 2013.

Having also acquired a 15% interest in the BM-ES-23 concession in the Espírito Santo Basin off the southeast coast of Brazil in February 2010, the Company is advancing exploration activities together with other companies, including the operator, Petrobras. Up to now, the presence of quality oil and gas deposits has been confirmed at the same concession as a result of exploratory and appraisal well drilling. In 2015, the Company drilled two appraisal wells and is confirming the presence of oil deposits at one of them.

Frade FPSO

FPSO vessel in the Frade Block

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