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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, 2015)
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.

The shale gas projects in the Horn River, Cordova and Liard basins contain discovered and undeveloped shale gas. We will proceed with development work and are aiming for production of a maximum of 1,250 million cubic feet per day (approximately 200 thousand boed).

The shale gas that is produced will be converted into LNG with studies under way to consider commercialization through exports 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 FY2014)
Venture company(established) Interest owned(*Operator)
(As of June 30, 2015)
Blocks 874/875/918/919
(Lucius Oil Field)
In production
-Crude oil: 6 Mbbl/d
-Natural gas: 5 MMcf/d
Teikoku Oil (North America) Co., Ltd.
(May 30, 2003)
INPEX 7.8%
Anadarko* 23.8%
Other 68.4%
Ship Shoal Block 72 In production
-Natural gas: 3 MMcf/d
(Volume not at wellheads but corresponding to the sales to buyers)
INPEX 25.0%
PetroQuest* 42.5%
Other 32.5%
West Cameron Blocks
401/402
INPEX 25.0%
PetroQuest* 38.0%
Other 37.0%
Walker Ridge
Blocks 95/139
Under exploration
(Oil/gas reservoirs confirmed)
INPEX Gulf of Mexico Co., Ltd.
(April 28, 2010)
INPEX 12.29%
Shell* 57.37%
Other 30.34%

In August 2012, INPEX acquired a 7.2% interest from Anadarko Petroleum Corporation in the Lucius Oil Field in the deepwater of the Gulf of Mexico. Oil and gas production commenced at the Lucius Oil Field in January 2015.

We participated in the deepwater exploration blocks of Walker Ridge 95/139 in the Gulf of Mexico in February 2011. In exploratory work since then, the Yucatan North-1 exploratory well was drilled and confirmed the presence of crude oil in an about 36-m thick sandstone bed formation. We are analyzing data obtained thus far and are working with our partners on more exploration and appraisal activities.

Lucius Oil Field

Lucius Oil Field

Venezuela: Copa Macoya and Guarico Oriental Blocks

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Contract area(block) Project status
(production on the basis of all fields and average rate of FY2014)
Venture company(established) Interest owned(*Operator)
(As of June 30, 2015)
Copa Macoya In production
-Crude oil: 1 Mbbl/d
-Natural gas: 52 MMcf/d
(Volume not at wellheads but corresponding to the sales to buyers)
Teikoku Oil and Gas Venezuela, C.A.
(June 7, 2006)
*INPEX 70%
PDVSA Gas 30%
Guarico Oriental INPEX 30%
*PDVSA CVP 70%

INPEX was awarded a 100% interest in a central onshore area, the East Guarico Block in Venezuela, in July 1992. INPEX participated in oil and natural gas field rehabilitation, exploration and development activities as an operator. Thereafter, the existing operational service agreements were changed to joint venture agreements in 2006. Around the same time, the East Guarico Block was newly reconfigured into a gas business in the Copa Macoya Block and a crude oil business in the Guarico Oriental Block. In addition, the agreement period of both agreements was extended to 2026 as a result of the change to joint venture agreements.


photo:Copa Macoya

Gas plant

Brazil: Frade Block, Other

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Contract area(block) Project status
(production on the basis of all fields and average rate of FY2014)
Venture company(established) Interest owned(*Operator)
(As of June 30, 2015)
Frade Project In production
-Crude oil: 27 Mbbl/d
-Natural gas: 3 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%

Frade Japão Petróleo Limitada (FJPL), a joint venture established by INPEX and Sojitz Corporation, acquired an interest in the Frade Block in Brazil’s offshore Northern Campos basin in July 1999. Commercial production started in June 2009. 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.

In addition, INPEX is engaging in joint exploration activities with various entities including Petróleo Brasileiro S.A., which serves as project operator, at the BM-ES-23 concession in the Espírito Santo Basin offshore Brazil. As a result of appraisal well drilling conducted from 2014 and over 2015, quality oil deposits were discovered at shallower and deeper depths. Plans are in place to consider the potential for commercial production.

Frade FPSO

FPSO vessel in the Frade Block

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