TWISTS AND TURNS OF ICHTHYS PROJECT—THE ROAD TO FID AND BEYOND —INPEX as the First Japanese Operator of a World-Ciass LNG Project getting over TECOP Challenges—

摘要

On 13 January 2012, INPEX made the Final Investment Decision to develop the Ichthys Gas and Condensate Field, which targets the first production by the end of 2016, having overcome a number of Technical, Economical, Commercial, Organizational and Political challenges. Upon the award of the exploration permit for the WA-285-P acreage off Western Australia in 1998, INPEX faced the first challenge to find exploration partners. Having failed that, INPEX had to complete the exploration works at its own risk, but it was rewarded by the excellent discovery of the condensate-rich gas field in 2000, and that was followed by successful drilling of a series of appraisal wells to delineate the vast accumulation of hydrocarbons. After the extensive studies, INPEX had matured the development concept to locate the LNG facilities on the Maret Islands off the Kimberley Coast, and commenced environmental approval processes in 2006.