First Oil Production from the Ravensworth Field

Posted 1 September 2010

The Ravensworth field, discovered in 2003 at a water depth of 210m, is located approximately 45 kilometers off the coast of Exmouth, Western Australia and it straddles both WA-43-L and WA-42-L production license areas.

The WA-43-L part of the Ravensworth field has been developed in conjunction with the BHP Billiton-operated Pyrenees oil development located in WA-42-L.

The oil produced from WA-43-L is processed for offtake via the FPSO owned by the WA-42-L joint venture in accordance with the tie-in agreement made between WA-43-L and WA-42-L Joint Ventures.

INPEX Alpha, Ltd. owns a 28.500% participating interest in the WA-43-L. The Joint Venture partners are BHP BP (39.999%), the operator, and Apache Corporation (31.501%).

INPEX has been carrying out exploration, development and production activities widely in Australia including the Van Gogh oil field production and the large scale Ichthys project. INPEX is also involved in the Kitan oil field development and the Bayu-Undan gas/condensate field production in an area jointly administered by Timor Leste and Australia and also in the operation of the LNG facility in Darwin, Northern Territory, Australia.

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INPEX is committed to recognising and respecting Aboriginal and Torres Strait Islander peoples whose cultures have existed in Australia for more than 65,000 years.

In particular, we acknowledge the Larrakia people as the recognised Traditional Owners of the land and waters where Ichthys LNG onshore facilities are located, in addition to the Whadjuk Nyoongar people on whose lands our Perth office is situated. Furthermore, Broome and Djarindjin are important logistical locations for transit of our offshore workforce, and we therefore extend our acknowledgement to the Yawuru, Bardi and Jawi peoples, respectively.

INPEX acknowledges the important role Aboriginal and Torres Strait Islander peoples continue to play in the development of our business in Australia and pay our respects to their Elders – past and present.