Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN19 February 2014Ichthys LNG Project Celebrates FPSO Keel Laying

The INPEX-operated Ichthys LNG Project has celebrated a key milestone for its
Floating Production, Storage and Offloading (FPSO) facility.
The first block of the keel was placed during a ceremony in the Daewoo Shipbuilding &Marine Engineering (DSME) shipyard in Okpo, South Korea, where the FPSO is being
constructed.

(Middle) Louis BonFPSO Keel Laying

Managing Director Ichthys LNG ProjectSpeaking at the event, Managing Director Ichthys Project Louis Bon said the keel laying
was significant as it is the structure around which the FPSO would take form.
“In a year that will see many major milestones for the Ichthys LNG Project, this is a very
big moment,” he said.
“The FPSO is the facility that will be used for condensate dewatering, stabilisation,
storage and export – so its importance cannot be overstated.
“With only a few years until first production, all of our major offshore facilities are takingshape.”Public Relations Group, Corporate Communications UnitAkasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANFollowing tradition and placing a newly minted Australian gold coin under the keel blockfor good luck, Mr Bon said the milestone was the major next step in bringing together
the fabricated blocks of the FPSO.
In traditional shipbuilding, keel laying was celebrated because it signified that work wasstarting on a vessel. In the case of Ichthys, modular construction means that mostpieces of the FPSO will have been incorporated in blocks before keel laying, for fastersequencing.
These blocks will be combined to create mega blocks, which are then lifted, skidded andwelded at the DSME dock to form parts of the FPSO and are outfitted and erected
separately.
Once complete, the facility will be towed 5,600 km to the Ichthys Field in the Browse
Basin, offshore Western Australia, where it will be permanently moored to the seabed
for the life of the Project.
The 336m by 59m FPSO is designed to hold more than one million barrels ofcondensate, which will be offloaded periodically to crude oil tankers and shipped directly
to market.
Work is underway for all major Ichthys LNG Project offshore facilities, including theCentral Processing Facility, subsea structures and the Gas Export Pipeline.

About INPEX
INPEX CORPORATION is a worldwide oil and gas exploration and production company
currently involved in more than 70 projects across 28 countries. INPEX is ranked in thetop 100 global energy companies and is listed on the Tokyo Stock Exchange. Part of theAustralian business community since 1986, we are active in a number of projects inAustralia and the Timor Sea, including the large-scale Ichthys LNG Project, Prelude
FLNG project, Van Gogh, Ravensworth and Kitan oil projects, as well as theBayu-Undan condensate development and associated Darwin LNG.
About the Ichthys LNG ProjectThe Ichthys LNG Project is a Joint Venture between INPEX group companies (theOperator), major partner TOTAL and the Australian subsidiaries of Tokyo Gas, OsakaPublic Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANGas, Chubu Electric Power and Toho Gas. Gas from the Ichthys Field, in the Browse
Basin offshore Western Australia, will undergo preliminary processing offshore toremove water and raw liquids, including condensate. The gas will then be exported tothe onshore processing facilities in Darwin via an 889km pipeline. The Ichthys LNG
Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG
per annum, along with approximately 100,000 barrels of condensate per day at peak.
Detailed Engineering, Procurement and Construction (EPC) of the Ichthys LNG Projectis ongoing and production is scheduled to commence by the end of 2016.
Please see further detail of the Ichthys LNG Project at the Special Website:
http://www.inpex.co.jp/english/ichthys/index.html

Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233