INPEX, as a pioneer in the oil and energy industry, has moved the Bonaparte carbon storage project to the Front End Engineering Design (FEED) stage. This project, which is set to achieve Major Project Status from the Australian government in mid-2025 as the first offshore CCS project in Australia, is recognized as an important initiative in reducing greenhouse gas emissions.
Details of the Bonaparte Project
The Bonaparte project initially received a declaration of identified greenhouse gas reserves in October 2026. This project has achieved a storage capacity of 7.5 million tons of carbon dioxide per year and is expected to help mitigate the adverse effects of climate change. With the transfer of the project to INPEX Bonaparte CCS Pty Ltd, the company aims to strengthen and expand its operations in carbon storage.
Acquisition of Woodside's Stake
As part of this structural change, INPEX Browse E&P has transferred its stake to this new entity and has also acquired Woodside's stake. Details regarding the terms of this agreement have not yet been publicly announced and are awaiting regulatory approvals from Australia. This action demonstrates INPEX's commitment to advancing innovation and sustainable development in the energy industry.
The Bonaparte project represents ongoing efforts to improve carbon management practices and reduce the negative environmental impacts of industrial activities. Given the global shift towards sustainable energy and reducing greenhouse gas emissions, this project could serve as a successful model for other countries in carbon storage.
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