Eurasia Asia & Oceania
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Segment Overview Asia & Eurasia Oceania u p. 28 u p. 20 Number of countries 7 4 1,551 ,296 1 1,245 1,218 1 16 14 Number of projects 1 3 In production 2 43 1 1 6 Under development 10 Preparation for development Under exploration (oil and gas reservoirs confirmed) Under exploration Other 466 Production/Reserves 367 Proved reserves (million boe) 214 201 195 210 207 191 Net production (thousand boed) 179 197 190 188 167 166 28 27 27 26 25 25 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 485,275 485,069 483,187 406,828 409,776 / 352,383 Net sales 299,599 281,623 Operating income 264,849 235,814 Net sales (¥ million) 191,070 178,225 Operating income (¥ million) 96,341 94,050 85,541 84,325 73,574 68,319 47,076 41,752 42,601 39,769 36,461 32,228 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 018 INPEX CORPORATION Annual Report 2015 Middle East Americas Japan & Africa u p. 32 u p. 36 u p. 30 6 7 1 Minami-Nagaoka 1 2 Gas Field 1 Naoetsu LNG 3 Terminal 9 7 1 16 10 Natural gas pipeline network (Approx. 1,400 km) etc. 783 857 636 4 Project Overview Project 583 518 505 174 168 169 158 163 155 138 135 132 130 126 117 74 68 65 40 36 30 29 30 27 28 20 25 25 21 21 21 17 18 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 524,528 520,835 500,033 621,513 421,184 357,343 354,136 350,735 333,213 303,819 243,113 205,572 129,522 120,268 118,937 ) 113,662 104,525 93,959 32,555 28,568 25,959 22,771 24,607 16,692 16,693 12,673 11,435 13,351 15,303 5,945 5,525 (7,646) (3,035) 1,028 (6,089) (5,518) ( 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 INPEX CORPORATION Annual Report 2015 019 Project Overview by Region Asia & Oceania In the Asia and Oceania region, INPEX holds participating interests in the Offshore Mahakam Block in Indonesia, which is contributing significantly to earnings, and the large-scale Ichthys and Abadi LNG projects, where development and preparatory development activities are under way. The Company is also actively advancing more than 20 exploration projects with growth potential across the region. 020 INPEX CORPORATION Annual Report 2015 1 Offshore Mahakam Block and Attaka Unit INPEX entered into a production shar- This venture subsequently made a series The Offshore Mahakam Block has ing contract (PSC) with the Indonesian of discoveries in the Bekapai (oil), Handil begun to see output decline after more Government in October 1966, at that (oil), Tambora (oil and gas), Tunu (gas), than 40 years of production. In 2012, time acquiring a 100% interest in the Peciko (gas), Sisi and Nubi (gas), as well impediments at production wells led to Offshore Mahakam Block. The Attaka as the South Mahakam (gas), fields, each a large drop in output, in addition to nat- Unit was established in April 1970 of which has continued to produce crude ural attrition. Thereafter, successful steps through the unitization of part of the oil and natural gas. The crude oil and con- were taken to control the decline in pro- adjacent blocks owned by INPEX and densate produced from these fields are duction. In addition to measures aimed Unocal (now Chevron), with each com- shipped mainly to oil refineries and power at counteracting sand problems, INPEX pany taking a 50% interest. Production companies in Japan by tanker from the accelerated the pace at which it under- of crude oil and natural gas has contin- Santan and Senipah terminals. Most of took development well drilling. Produc- ued since 1972. INPEX farmed out 50% the natural gas is supplied to the Bontang tion volumes have remained stable since of its interest in the Offshore Mahakam LNG Plant, and then shipped as LNG to 2013. Block to CFP (now TOTAL) in July 1970. customers in Japan and elsewhere. Contract area Project status Venture company Interest owned (block) (production on the basis of all fields and average rate of FY2014) (established) (*Operator) Crude oil: 72 Mbbld Offshore Mahakam INPEX CORPORATION INPEX 50% TOTAL* 50% In production Natural gas: 1,257 MMcf/d (February 21, 1966) Attaka Unit LPG: 11 Mbbld INPEX 50% Chevron* 50% Bontang LNG Plant Attaka Unit Santan Terminal Attaka Field Badak Field Nilam Field Tunu Field Tambora Field Sisi Field 4 Handil Field Overview Project Nubi Field Senipah Terminal Bekapai Field Balikpapan Peciko Field Offshore INDONESIA Mahakam Block South Mahakam Field Gas field Oil field Oil and gas field 1 2 1: Compression unit 2: Production facility INPEX CORPORATION Annual Report 2015 021 2 South Natuna Sea Block B FPSO vessel In July 1977, INPEX acquired a 17.5% duction, storage and offloading (FPSO) Natuna Sea interest in the South Natuna Sea Block B in system. Production of crude oil and con- South Natuna Sea North Belut Block B Indonesia. Later, in January 1994, INPEX densate began in December 2004, with Belida Kerisi Bawal increased its total interest in the block to LPG production commencing in April 35% with the purchase of an additional 2007. After 2006 at this same block, pro- interest. Crude oil production began in duction began at the Hiu Gas, Kerisi Oil South Belut Natuna Island 1979, and supplies of natural gas to Sin- and Gas, North Belut Gas and Bawal Gas Hiu gapore via Indonesia’s first international fields. Most recently, production com- Sembilang Belanak pipeline commenced in 2001. Additional menced at the South Belut Gas Field in Gas field Oil field Oil and gas field deliveries of natural gas from this pipeline April 2014. to Malaysia started in 2002. These supply milestones contributed to the extension Project status Contract area Venture company Interest owned (production on the basis of all fields and of the PSC covering the block until 2028. (block) (established) (*Operator) average rate of FY2014) Production operations in the Belanak Crude oil: 27 Mbbld INPEX Natuna 35% South Natuna INPEX Natuna, Ltd. oil and gas field, which is part of South In production Natural gas: 354 MMcf/d ConocoPhillips* 40% Sea B (September 1, 1978) Natuna, utilize a world-class floating pro- LPG: 12 Mbbld Chevron 25% 3 Sebuku Block Ruby Gas Field Fertilizer plant In September 2010, INPEX obtained a Bontang LNG Plant Attaka Field 15% interest in the Sebuku Block off the Santan Terminal shore of South Makassar, Indonesia. There- Tunu Field Senipah Terminal after, work began to develop the Ruby Peciko Field Gas Field in the block, and production Balikpapan of natural gas followed in October 2013. South Mahakam Field Kalimantan The natural gas produced here is trans- ported from offshore production facilities Makassar Strait via undersea pipeline to onshore storage INDONESIA facilities that receive products from the Sebuku Block Sulaewesi Offshore Mahakam Block. The natural gas Gas field is then mainly sent via inland pipeline to a Ruby Gas Field Oil field fertilizer plant in East Kalimantan. Offshore production facility in the Ruby Gas Field Contract area Project status Venture company Interest owned (block) (production on the basis of all fields and average rate of FY2014) (established) (*Operator) INPEX South Makassar, Ltd. INPEX South Makassar 15% Sebuku In production (Natural gas: 73 MMcf/d) (May 17, 2010) PEARL OIL (Sebuku) Ltd.* 70% TOTAL 15% 022 INPEX CORPORATION Annual Report 2015 4 Abadi LNG Project INPEX acquired a 100% interest in the work. Meanwhile, INPEX also has studied Masela Block in November 1998 through the feasibility of full field development, Tanimbar Island an open bid conducted by the Indone- drilling three appraisal wells between INDONESIA sian government and subsequently went 2013 and 2014 with the aim of expand- Abadi Gas Field Arafura Sea about exploratory activities as Operator, ing the volume of recoverable reserves. discovering the Abadi Gas Field through Evaluations of these wells resulted in the the first exploratory well drilled in 2000. confirmation of a substantially greater AUSTRALIA The company subsequently drilled two volume of natural gas reserves, which Timor Sea appraisal wells in 2002 and four in 2007– was certified by Indonesian authorities. 2008, all of which confirmed the pres- Taking those into consideration, INPEX is ence of gas and condensate reservoirs. studying ways to optimize development Darwin In December 2010, Indonesian authori- plans centered on a large-scale FLNG Gas field ties approved the initial plan of develop- and is currently in discussions with the ment (POD-1) deploying a floating LNG Indonesian government. (FLNG) plant with an annual processing capacity of 2.5 million tons, and from Contract area (block) Project status Venture company (established) Interest owned (*Operator) November 2012 to November 2014, Preparation for INPEX Masela, Ltd. INPEX Masela* 65% INPEX undertook SURF (subsea, umbil- Masela development (December 2, 1998) Shell 35% ical, riser and flowline) and FLNG FEED 4 Project Overview Project 1 2 3 1: Drillship for the Abadi LNG Project 2: Production test 3: Floating LNG (rendering) INPEX CORPORATION Annual Report 2015 023 5 The Ichthys LNG Project and Surrounding Blocks Project Overview ensuing period, INPEX has continued to jetties to accommodate module ship- In 1997, INPEX placed an open tender engage in engineering, equipment pro- ment. Currently, pipe-laying work for the bid to acquire the petroleum exploration curement and construction work activ- 889-km-long gas export pipeline (GEP) permit WA-285-P located approximately ities with respect to both onshore and that will connect the Ichthys gas-con- 200 km northwest of Western Australia’s offshore production facilities.