INPEX has, through its subsidiary INPEX Norge, entered into an agreement to acquire a 40% participating interest from Bayerngas Norge in exploration license PL767 located in the western Barents Sea offshore Norway.
INPEX’s acquisition of this participating interest will hand the company its first ever project in Norway.
The license is located in the western Barents Sea approximately 120 kilometers offshore Norway and covers a surface area of 211 square kilometers where the water depth ranges between approximately 300 and 400 meters.
Following the required administrative procedures involving Norwegian government authorities and Lundin Norway, which is the operator of the license, INPEX will continue to assess the possibility of discovering hydrocarbon deposits through exploration activities.