MEDIA RELEASE
13 January 2012

INPEX AND TOTAL MAKE FINAL INVESTMENT DECISIONON ICHTHYS LNG PROJECT, AUSTRALIAINPEX CORPORATION (INPEX) and TOTAL S.A. (Total) today confirmed the Final Investment
Decision (FID) on the US$34 billion Ichthys LNG Project.
INPEX Chairman Naoki Kuroda made the announcement in Darwin, the site of the onshore gas
processing facilities which will be built to produce 8.4 million tonnes of liquefied natural gas(LNG) per annum.
“The Ichthys FID announced today by INPEX and Total signals the start of construction of oneof the world’s largest LNG facilities based on an estimated 40 years of gas and condensate
reserves from the Browse Basin offshore Western Australia,” Mr Kuroda said.
“In delivering this important Project into production we will be securing vital long-term energy
supply to Japan and our other customers while delivering sustainable economic and social
benefits across Australia.”
Mr Kuroda said the Ichthys LNG Project was the cornerstone in the company’s growth strategy
into the 21st Century and would be the first time INPEX was leading such a world-scale project
as operator.
“Ichthys production volumes represent more than 10% of Japan’s LNG imports at current
levels,” Mr Kuroda said. “Ichthys will provide a long-term stable supply of cleaner energy toJapan, and help Japan diversify its energy sources.
“Ichthys will contribute significantly to the growth of the Australian economy while strengthening
friendly ties between Japan and Australia.”
Mr Kuroda said the Ichthys LNG Project’s commercial strength would help INPEX achieve its
objective of doubling oil and gas production over the next decade.
INPEX and Total recently announced binding Sales and Purchase Agreements for the entire
LNG production from the Project for 15 years from 2017.
In addition, the Project will produce an estimated 1.6 mtpa of liquefied petroleum gases. The
liquids-rich gas stream will also generate approximately 100,000 barrels of condensate per dayat peak.
Mr Kuroda said mobilisation for construction of the Project would start immediately withpreliminary works at the Blaydin Point site due to commence within weeks.
Mr Kuroda confirmed that Engineering, Procurement and Construction (EPC) of the onshore
LNG plant and associated infrastructure would be undertaken by the JKC joint venture,comprising JGC Corporation, KBR and Chiyoda Corporation. JGC, KBR and Chiyoda areleading global LNG companies, with JGC and Chiyoda headquartered in Japan and KBR
headquartered in the United States.

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Mr Kuroda said that between them, the three onshore EPC joint venturers had been responsiblefor designing and delivering a large percentage of the world’s major oil and gas processing
plants, including large-scale LNG facilities across the globe.
Mr Kuroda also confirmed contracts to be awarded for the major offshore work packages,including:•••••Central processing facility – Samsung Heavy Industry
Subsea production system – General Electric
Subsea flow line construction and installation – McDermott in cooperation with Heerema
Gas export pipeline – Mitsui-Europipe, Sumitomo, Nippon Steel-Metal One (pipemanufacture); Mitsui-Bredero Shaw (pipe concrete coating); Saipem (pipelay)
Floating production storage and offloading vessel – to be announced in the comingweeks.

Mr Kuroda said all successful tenderers to the Ichthys LNG Project in Australia had todemonstrate how they will maximise the use of Australian products and services.
“Ongoing compliance and reporting mechanisms will ensure contractors perform to thestandards set by the Ichthys Project’s approved Australian Industry Participation plans andcontractual obligations,” Mr Kuroda said.
“Ichthys will truly be an international collaboration. An estimated 3000 jobs will be needed in
Darwin during the peak of construction with a further 1000 offshore. Once the Project is inoperation we will require approximately 700 permanent positions.”
INPEX and Total have already committed to a $91 million environmental and social benefits
package to provide long-term benefits for the community over the life of the Project and beyond,which includes a $3 million contribution to Charles Darwin University to accelerate plans for theNorth Australian Centre for Oil and Gas.
In 2010 INPEX and Total also contributed $3 million to fund construction of the Larrakia Trade
Training Centre, the biggest cross-training facility under one roof in the Northern Territory. It isdelivering accredited qualifications, traineeships and apprenticeships to Aboriginal and nonAboriginal students from across Northern Australia.
“INPEX is committed to contributing to the sustainable development of the communities inwhich we operate, improving social and economic well-being while minimising impact on theenvironment,” Mr Kuroda said.
Mr Kuroda thanked the Australian, Northern Territory and Western Australian governments fortheir considerable support in helping bring Ichthys to FID.
“INPEX is committed to continuing a close cooperative approach with government, thecommunity and our other key stakeholders in our areas of operations to delivery the Ichthys
vision on time and safely.
Key environmental and production approvals have been received from the relevant authorities inAustralia. The FID for Ichthys is based on two LNG trains at Blaydin Point, however thegovernment has set aside enough land for the possible future expansion of the Project of up tofour additional trains.
ENDS
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0233
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About INPEX
INPEX CORPORATION is a worldwide oil and gas exploration and production company currently
involved in more than 70 projects across 26 countries. INPEX is ranked in the top 100 global energy
companies and is listed on the Tokyo Stock Exchange. Part of the Australian business community since1986, we are active in a number of projects in Australia and the Timor Sea, including the large-scaleIchthys LNG Project, Van Gogh, Ravensworth and Kitan oil projects, as well as the Bayu-Undan
condensate development and associated Darwin LNG.
About the Ichthys LNG Project
The Ichthys LNG Project is a joint venture between INPEX group of companies (the Operator) and Totalgroup of companies. Gas from the Ichthys Field, in the Browse Basin offshore Western Australia, will
undergo preliminary processing offshore to remove water and raw liquids, including condensate. The gas
will then be exported to the 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.

Ichthys Project Summary•

INPEX – 72.805%•Total – 24%•

Tokyo Gas Co., Ltd. – 1.575% (subject to approval by the Australiangovernment)•Osaka Gas Co., Ltd. – 1.2% (subject to approval by the Australiangovernment)•Toho Gas Co., Ltd. – 0.42% (subject to approval by the Australiangovernment)•Tokyo Electric Power Company, Inc•

Tokyo Gas Co., Ltd.

•The Kansai Electric Power Co., Inc.

•Osaka Gas Co., Ltd.

•

Kyushu Electric Power Company Inc.

•

Chubu Electric Power Company, Inc.

•

Toho Gas Co., Ltd.

•CPC Corporation, Taiwan•

INPEX CORPORATION•

Total Gas & Power Limited

CAPEX

•

US$34 billion

FID date•

13 January 2012

Production starttarget•

By the end of 2016

Production rate•

8.4 million tonnes of LNG per annum•

1.6 million tonnes of LPG per annum•

Approximately 100,000 barrels of condensate per day at peak

Joint venture
participants

LNG gas buyers

3Key facilities

Key EPCcontractors•

Central Processing Facility (CPF)•

Floating Production Storage Offloading (FPSO) vessel•

889 km Gas Export Pipeline (GEP)•Two train LNG plant on Blaydin Point, Darwin, Northern Territory•Onshore LNG facility – JKC Joint Venture (JGC Corporation, KBR,Chiyoda Corporation)•

Central processing facility – Samsung Heavy Industry•

Floating production storage and offloading vessel – to be confirmed•

Subsea production system – General Electric•

Subsea flow line construction and installation – McDermott incooperation with Heerema•Gas export pipeline (manufacture) – Mitsui-Europipe, Sumitomo, Nippon
Steel-Metal One•

Gas export pipeline (concrete coating) – Mitsui-Bredero Shaw•

Gas export pipeline (pipelay) – Saipem4