Projects in Australia and Timor Joint Petroleum Development Area (JPDA) | |
 | |  | | • JPDA03-12 Block (INPEX Sahul, Ltd.), Timor Sea Joint Petroleum Development Area [Producing] | |  | |  |
| In April 1993, INPEX acquired an interest in JPDA03-12 Block, located in the Timor Sea Joint Petroleum Development Area. | | |  The exploration operations in this block resulted in the discovery of oil and gas in the Elang, Kakatua, Kakatua North, Bayu-Undan and Hingkip structures. In July and August 1998, production began in the Elang Field and the Kakatua and Kakatua North Fields, respectively.
The Bayu-Undan gas-condensate Field lies across this block and its eastern neighbor, the JPDA03-13 Block. A unitization agreement was reached in April 1999 among the interest holders of these blocks, after which joint development was initiated for the Bayu-Undan unit. INPEX maintains a participating interest in the Bayu-Undan unit.
The original plans called for the development and production of condensate and LPG only; however, during 2002 an LNG sales contract was signed designating the unit as a gas supply source for delivery to Japan. This arrangement necessitated new plans for developing the unit as an LNG project. For INPEX, this Bayu-Undan Project will stand alongside the LNG projects of Bontang and Tangguh in Indonesia in terms of scale and importance. | | |  In connection with this LNG project, INPEX created INPEX DLNGPL Pty Ltd. for the purpose of investing in an undersea pipeline to Darwin, Australia and in a venture supporting the construction and operation of an LNG plant in the suburbs of Darwin. | | | | as of September 30, 2004 | | Block | Venture Company (est.) | Capital | Interest Ownership | | 03-12 Block, Timor Sea Joint Petroleum Development Area | INPEX Sahul, Ltd.
(March 30, 1993) | ¥4.6 billion | INPEX Sahul, Ltd. 19.07%/ ConocoPhillips 46.71%/ Santos 19.27%/ Petroz 14.95% | | (Bayu-Undan Unit) | INPEX Sahul, Ltd. 10.53%/ ConocoPhillips 48.47%/ Santos 10.64%/ Petroz 8.25%
EniAgip 12.04%/ Tokyo Timor Sea Resources (Tokyo Electric / Tokyo Gas) 10.08% |
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| | | | • JPDA03-01 Block (INPEX Timor Sea, Ltd.), Timor Sea Joint Petroleum Development Area [Discovered] | | | | |
| INPEX acquired the JPDA03-01 Block in a public bid in October 1991. In January 1992, all relevant parties signed a PS contract. Subsequently, the drilling of five exploration wells resulted in the discovery of the crude oil in the Jahal, Klill and KudaTasi structures. | | | | as of September 30, 2004 | | Block | Venture Company (est.) | Capital | Block Interest Ownership | | 03-01 Block, Timor Sea Joint Petroleum Development Area | INPEX Timor Sea, Ltd.
(November 25, 1991) | ¥2.28 billion | INPEX Timor Sea 35%/ Woodside 40%/ Santos 25% |
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| |  |  | INPEX Projects |  |  | | |  | Australia and Timor Sea Joint Petroleum Development Area | | | | | | | | | | | | | | | |
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